THE PORT AUTHORITY OF NY & NJ

Press Release Article


PORT AUTHORITY AUTHORIZES $17.1 MILLION IN INVESTMENTS AT THREE MAJOR AIRPORTS

Date: Oct 20, 2005
Press Release Number: 120-2005


The Port Authority Board of Commissioners today authorized $17.1 million in capital improvements at John F. Kennedy International, Newark Liberty International and LaGuardia airports. The initiatives range from roadway improvements to runway repairs and other projects that will enhance the operating environment at the airports.

“Our 10-year strategic plan calls for continued robust investments in our airport system,” said Port Authority Chairman Anthony R. Coscia. “In order to maintain a world-class airport system that safely and efficiently serves more than 100 million passengers a year, we must continue to be bullish in our approach to investing at our airport facilities.”

Port Authority Vice Chairman Charles A. Gargano said, “These are investments in the economic vitality of our region. The Port Authority airport system is responsible for generating more than $20 billion in wages and $57 billion in annual economic activity in the New York-New Jersey metropolitan region, so it is critical that we ensure our airport system continues to grow as an economic engine.”

Port Authority Executive Director Kenneth J. Ringler Jr. said, “The items approved by the Board today will bolster our nonstop efforts to make traveling through our airports a better experience for our customers. We will continue to identify upgrades and state-of-good-repair work to increase each airport’s effectiveness.”

The investments at the three airports include:

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 and Bus Station; the Lincoln and Holland tunnels; the three bridges between Staten Island and New Jersey; the PATH (Port Authority Trans-Hudson) rapid-transit system; the Port Authority-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.