THE PORT AUTHORITY OF NY & NJ

Press Release Article


CONTRACTS TO MINORITY-OWNED, WOMEN-OWNED, AND SMALL BUSINESS ENTERPRISES EXCEED $200 MILLION IN 2005

Date: Mar 30, 2006
Press Release Number: 25-2006

The Port Authority and its aviation tenants awarded $209 million in contracts to minority-owned, women-owned and small business enterprises (M/W/SBEs) in 2005, according to a report presented to the agency’s Board of Commissioners today.

The Port Authority’s long-standing small-business programs, created nearly 35 years ago to advance regional economic development by increasing participation by M/W/SBEs in Port Authority contracts, has resulted in $1.1 billion in contracts awarded over the past five years – nearly 20 percent of all the agency’s construction, procurement and professional contract dollars during that period.

“Our commitment to economic development includes a strong record of inclusiveness that has helped our region maintain its competitive edge,” said Port Authority Chairman Anthony R. Coscia. “As our 10-year strategic plan develops, we will continue to seek ways in which all businesses – big or small, and representing the wealth of diversity that makes this region strong – can contribute to our legacy of robust economic growth.”

Port Authority Vice Chairman Charles A. Gargano said, “One of the fundamental tenets of economic development is job creation, and our programs have a stellar record in this regard.

In the last five years, the Port Authority’s cumulative M/W/SBE awards, coupled with awards by our aviation tenants, have created about 18,500 jobs generating $790 million in wages and more than $2.4 billion in regional economic activity.”

Port Authority Executive Director Kenneth J. Ringler Jr. said, “We’re very proud of the fact that we are not some Johnny-come-lately to this issue. Our Small Business Programs unit is well into its fourth decade of service, during which it has provided countless opportunities for regional businesses and their employees to prosper.”

Highlights from the 2005 report include:

Today’s report also included updates on the agency’s construction pre-apprenticeship training programs and its Mentor-Protégé Program. Lash Green, General Manager of Small Business Programs for the Port Authority, said, “We’re pleased that more than 350 students participated in construction pre-apprenticeship training programs in New York and New Jersey last year, and more than half of those students were placed in apprenticeships, while many of the remaining participants followed meaningful career paths in college, the military or in full-time positions.”

The Mentor-Protégé Program, now in its third year, matches certified minority-owned and women-owned businesses with the region’s leading construction companies in an effort to increase their capacity and ability to bid successfully on larger contracts. Since its inception, the program has expanded from seven one-on-one mentor-protégé teams to 13. In 2005, the PA awarded $6 million in contracts to protégé companies.

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.