The Port Authority of New York and New Jersey has announced a $45bn investment blueprint for the region’s airports, bus infrastructure, railways and ports between 2026 and 2035.
The so-called “Capital Plan” includes establishing a public-private partnership to design and build a new Terminal B at Newark Liberty International Airport, the expansion of Terminal A, a new automated people carrier and an airport train station.
A third major taxiway and simplified roadway network are also planned.
At John F. Kennedy Airport, terminals 1 and 6 are due to be completed in 2026. A new AirTrain will also be built, as will a new restaurant for taxi drivers.
Terminal A at LaGuardia Airport is also due to be renovated.
$11bn will be spent on the design, planning and construction of the two-phase New Midtown Bus Terminal.
Money will be spent on the PATH rail system, with all four lines running seven days a week from 2026 and increased rush hour service, late-night trains and direct weekend service.
$1.2bn in private investments would modernise and expand container terminal operations and infrastructure at the Seaport.
Funding will be spent on completing Tower 2 and Tower 5 at the World Trade Center campus, while improving office space at the One World Trade Center.
In addition to the Capital Plan the Port Authority also announced a $10bn 2026 annual budget, including $4.2bn for operating expenses, $4.1bn in capital spending, $1.7bn in debt spending and $1.1bn for safety and security.
Kevin O’Toole, Port Authority chairman, said: “The concluding capital plan provided the roadmap and funding for an historic decade of achievement at the Port Authority.
“This record $45bn proposed 2026-2035 Capital Plan builds on a 104-year legacy of connecting this region through bold, forward-looking, best-in-class infrastructure that will drive our economy.”
Jeffrey Lynford, Port Authority’s vice chair, said: “At a moment when we are undertaking the most significant transformation of our infrastructure since the post-war boom, this ambitious plan anchors the Port Authority’s commitment to keep building for the people of New York and New Jersey.
“Across every corner of the region, we are modernising, expanding, and hardening the facilities that millions rely on every day, creating best-in-class gateways and resilient infrastructure that will serve travellers for generations to come.”
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