Date: May 28, 2014
Press Release Number: 108-2014
Agency spends record $419 million – the largest of any transportation agency in the region – supporting nearly
3,480 job-years, and generating $215 million in wages and $708 million in regional economic activity.
The Port Authority announced today that it awarded $419 million in contracts to Minority Women-Owned Small Business Enterprise (M/W/SBE) for work at its facilities in 2013, including $181 million in World Trade Center construction dollars. The Port Authority's M/WSBE spending was the largest of any transportation agency in the region.
During today's monthly meeting of the Board of Commissioners, the agency said the largest portion of the $419 million went to construction projects, amounting to $327 million or 78 percent. In addition to World Trade Center projects, $93 million in other Port Authority contracts and $53 million from aviation tenants went to M/W/SBEs.
“We need a diverse pool of business to drive economic activity and create jobs in the region. The Port Authority has aggressively sought to increase the number of Port Authority-certified minority, women-owned and small business enterprises capable of bidding successfully on larger construction projects,” said Port Authority Executive Director Pat Foye. “This recent report clearly demonstrates that our commitment is real, ongoing, and paying big dividends to the region.”
“The Port Authority is assisting in the growth and success of new business, and M/W/SBEs are winning larger projects that move the needle on job creation and the economy. This is a win-win for the region,” said Port Authority Deputy Executive Director Deborah Gramiccioni.
As projects at the WTC site grow closer to completion, the cumulative spend on minority, women-owned and small business enterprises is approximately $1.2 billion to date, with an overall participation rate of 17.5 percent – surpassing the Port Authority's 17 percent goal.
The construction total for 2013, which includes the Port Authority, the World Trade Center and aviation tenant work was $1.8 billion, with 18.2 percent or $327 million awarded to M/W/SBEs.
The Port Authority of New York and New Jersey
Founded in 1921, the Port Authority of New York and New Jersey builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. The agency's network of aviation, ground, rail, and seaport facilities is among the busiest in the country, supports more than 550,000 regional jobs, and generates more than $23 billion in annual wages and $80 billion in annual economic activity. The Port Authority also owns and manages the 16-acre World Trade Center site, where construction crews are building the iconic One World Trade Center, which is now the tallest skyscraper in the Western Hemisphere. The Port Authority receives no tax revenue from either the State of New York or New Jersey or from the City of New York. The agency raises the necessary funds for the improvement, construction or acquisition of its facilities primarily on its own credit. For more information, please visit http://www.panynj.gov.