Port Authority Board OKs 10-Year, $45B Capital Plan

The centerpiece of the authorised plan is the new Midtown Bus Terminal, designed to supply sooner entry to the Lincoln Tunnel, cut back congestion on metropolis streets and assist the transition to all-electric fleet.

At Newark Liberty Worldwide Airport (EWR), the plan requires establishing a public-private partnership to design and construct a new Terminal B, and develop a brand new AirTrain transit system. The continued program of upgrades at John F. Kennedy International Airport (JFK) will proceed as effectively, together with doubling capability of the AirTrain JFK system with state-of-the-art new prepare vehicles.

Additionally over the following decade, the Port Authority plans to faucet greater than $1.2 billion in non-public investments to modernize and develop container terminal operations and infrastructure at its seaport, and full the World Commerce Middle campus with buildouts of Tower 2 and Tower 5. The authorised 2026-2035 Capital Plan additionally contains Port Authority’s $2.7 billion contribution to the Gateway Program, the great rehabilitation of the George Washington Bridge and in depth rehabilitations of the Lincoln Tunnel Helix and Outerbridge Crossing.

Spending on the brand new Capital Plan will start subsequent 12 months with an allocation of $4 billion from the Port Authority’s 2026 annual price range, which the board additionally authorised on Dec. 18. Representing an 11% improve from 2025, the spending might be directed towards the JFK, EWR and Bus Terminal initiatives; enhancements to the PATH transit system’s railcar fleet and 117-year-old monitor infrastructure; airport solar energy initiatives; and ongoing agency-wide efforts to scale back greenhouse gasoline emissions and safeguard crucial infrastructure from the impacts of extra frequent and extreme storms and sea stage rise on account of local weather change.