PANYNJ returns to pre-pandemic level capital plans

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The Port Authority of New York and New Jersey (PANYNJ) has released its proposed plan for 2024, featuring $3.6bn in capital expenses.

Major infrastructure projects have been allocated funding, including the ongoing development of John F. Kennedy International Airport, the preparation of a new Midtown Bus Terminal, and the new AirTrain Newark system.

The budget, which can be found by clicking here, will also look to support initiatives in “innovation, sustainability and resiliency”.

“The overarching message from this budget proposal is clear: We are full steam ahead,” said Port Authority chairman Kevin O’Toole. “We’re moving forward on several major projects that are critical to the region.”

PANYNJ has delivered a wide range of projects using partnership models, including multi-billion-dollar upgrades to JFK Airport. Earlier this year, the authority released a request for information for a communication P3 project at the airport.