Despite a slow economy, the Port Authority of New York and New Jersey will “continue to be the leading economic development and job creation agency in the region,” according to Bill Baroni, executive deputy director.
The bistate agency’s $4 billion capital budget “represents a historic high” that will offer plenty of opportunities for New Jersey businesses, said Baroni, who gave the keynote address at the Newark Regional Business Partnership’s annual transportation awards ceremony Monday.
In addition to work at Newark Liberty International Airport and at the Port of New York and New Jersey, the agency is working on two of its bridges at the same time, Baroni said, referring to the Bayonne and Goethals spans.
The agency is spending $1 billion on the Bayonne Bridge, which it needs to raise to accommodate the larger ships that will be able to pass through the Panama Canal once its expansion is complete. The bridge’s current height will prevent the largest ships from accessing the port through this channel, he said.