Date: Aug 10, 2011
Press Release Number: 77-2011
A solid transportation infrastructure is the key to economic and transportation success for the future. The Port Authority’s 2011 Capital Plan is an example of a fundamental link between investments in transportation and our state’s ability to compete nationally and globally. The Port Authority’s 2011 Capital Plan stands to be an example of sound investment in transportation, driving essential economic development through the region for years to come. The Capital Plan stands to generate 185,633 jobs, $10.8 billion in wages and $42.7 billion in sales within the 17-county New York/New Jersey Port District. In flat economic times such as these, New Jersey cannot afford to disregard such potential for growth.
NJ SEED acknowledges that New Jersey is in a historic economic recession, leaving projects funds hard to come by. NJ SEED commends the Port Authority for its commitment to keeping fees a consideration for commuters throughout the region. NJ SEED supports the creation of new revenue streams within reason, including but not limited to public/private partnerships that are dedicated to transportation infrastructure development. In a flat economy, these are the type of government investments that best yield privates sector growth and get New Jersey on the road back to prosperity.
The Port Authority of New York and New Jersey
Steve Coleman or Ron Marsico, 212 435-7777