Date: Jul 23, 2014
Press Release Number: 154-2014
"The Port Authority Board of Commissioners today authorized $90 million to a "Quality of Commute' improvement program for the Port Authority Bus Terminal. The functionally obsolete facility no longer meets the transportation needs of the hundreds of thousands of riders that pass through the terminal every day, and the Port Authority is committed to identifying comprehensive improvements within the context of its existing Capital Plan. This initiative will make interim improvements to the terminal as the agency explores a program to deliver a redeveloped facility."
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.