Budgets 2017: New York/New Jersey

New York/New Jersey: Port Authority Board Adopts 2017 Budget

The board of commissioners of the Port Authority of New York & New Jersey on December 8 approved the agency’s 2017 budget consisting of $3.1 billion for operating expenses and $2.9 billion for capital projects, including "state-of-good repair" work and new construction at its bridges, tunnels, terminals, airports, seaport and PATH commuter rail system.

The $3.1 billion operating budget reflects a 1.3 percent increase in expenses compared to the prior year budget before consideration of the costs of operating and maintaining new facilities at the World Trade Center and contractual five-year step increases in rents for certain Port Authority facilities. After consideration of these costs, the budget represents an increase of 3.1 percent. It includes $706 million "to ensure safe and secure facilities for our customers through police and security resources, investing in new technology and infrastructure and employing best practices for security."

The capital budget funds major ongoing investments in key transportation facilities, including:

• $153 million for Port Department projects, including the construction of a new ship-to-rail facility at Greenville Yard to enhance the movement of cargo on and off the port.

• $887 million for investment in tunnel, bridge and terminal facilities, including the ongoing Bayonne Bridge project, the new Goethals Bridge, planning funds to begin the process of building a new Port Authority Bus Terminal, and major state-of-good repair projects at the George Washington Bridge

• $989 million for aviation projects, including the ongoing redevelopment of LaGuardia Airport and ongoing planning for a new Terminal A at Newark Liberty International Airport.

• $532 million to continue the World Trade Center rebuilding effort with the completion of the Vehicular Safety Center and Bus Parking Facility

• $217 million for PATH projects, including the continued installation of a new signal system including Positive Train Control

"This fiscally responsible budget followed a painstaking review of the agency’s resources to make sure every dollar was wisely invested in projects that will benefit the traveling public," said Port Authority Chairman John Degnan. "The budget continues our trend to return to the Port Authority’s core mission of rebuilding critical aging infrastructure while keeping all of our transportation facilities in a state of good repair."