THE PORT AUTHORITY OF NY & NJ
Press Release Article
PORT AUTHORITY COMPLETES RECORD $1 BILLION
IN CONSTRUCTION PROJECTS IN 2003
Date: Apr 22, 2004
Press Release Number: 51-2004
The Port Authority today announced completion of a record $1.07 billion in construction projects in 2003. The agency also highlighted $465 million in new construction contracts that were awarded during the year.
Completed construction at Port Authority facilities increased by $70 million over 2002. Major accomplishments for the year included restoration of service at the World Trade Center and Exchange Place PATH stations and the debut of AirTrain at John F. Kennedy International Airport.
Port Authority Chairman Anthony R. Coscia said, “Last year, under the leadership of Governor McGreevey, we witnessed a record level of construction at our facilities. Our construction program expanded to complete several major transportation improvements that have brought our customers more and better travel options. We implemented E-ZPass Plus at three airports and also broke ground on the ExpressRail facility at the Port Authority-Elizabeth Marine Terminal. Most notably, we invested $364 million to restore PATH service at the World Trade Center and Exchange Place stations, reconnecting New Jersey with Lower Manhattan. The completion of these projects mark major milestones in our agency’s history, and support the economic viability of the region.”
Port Authority Vice Chairman Charles A. Gargano said, “The opening of AirTrain JFK in December was a major accomplishment of last year’s construction program. The $1.2 billion state-of-the-art light-rail system serves thousands each day, cuts travel time between Queens and midtown Manhattan and reduces congestion. The long-awaited opening was the culmination of five years of hard work that generated $580 million in wages and $980 million in construction-related sales.”
Port Authority Executive Director Joseph J. Seymour said, “2003 was a tremendous year for the Port Authority’s construction program, and we’ll build on our success with continued investment. In addition to the year’s completed construction, we also awarded $465 million for new construction projects. Many of these projects are well underway, enhancing operations, capacity and security at our facilities.”
Additional projects highlights for 2003 include rehabilitation and repainting of the Outerbridge Crossing. Contracts also were awarded for airside improvements at Newark Airport and improvements at the Port Authority Bus Terminal.
The Port Authority of New York and New Jersey operates many of the busiest and most important transportation links in the region. They include John F. Kennedy International, Newark Liberty International, LaGuardia and Teterboro airports; AirTrain JFK and AirTrain Newark; the George Washington Bridge; the Lincoln and Holland tunnels; the three bridges between Staten Island and New Jersey; the PATH (Port Authority Trans-Hudson) rapid-transit rail system; the Downtown Manhattan Heliport; Port Newark; the Elizabeth-Port Authority Marine Terminal; the Howland Hook Marine Terminal on Staten Island; the Brooklyn Piers/Red Hook Container Terminal; and the Port Authority Bus Terminal in midtown Manhattan. The agency also owns the 16-acre World Trade Center site in Lower Manhattan. The Port Authority is financially self-supporting and receives no tax revenue from either state.