Port Authority unveils record $45B capital plan
The proposal funds the completion of ongoing megaprojects in New York and New Jersey, in addition to other critical infrastructure upgrades.
- proposed $45 billion capital plan outlines major construction work on various infrastructure projects in the New York metropolitan area over the next decade, according to a Nov. 13 Port Authority of New York and New Jersey news release.
- The 2026-2035 plan funds the Port Authority’s $2.7 billion contribution to the Gateway Program and advances several large capital projects, including the $11 billion Midtown Bus Terminal rebuild, major airport overhauls, tunnel upgrades and bridge rehabilitation.
- The proposal comes as President Donald Trump’s administration recently threatened to pause funding for New York megaprojects, though contractors on those jobs said short-term work remained ongoing.
The proposed plan, a funding record, signals a deep pipeline of large heavy civil projects on the horizon in the New York metropolitan area, according to the news release.
In 2026 alone, the plan allocates $10.1 billion, including $4.2 billion for operating expenses and $4.1 billion in capital spending, according to the release.
The $45 billion proposal continues a capital strategy, started in 2017, that has already produced some of the area’s highest-profile projects, according to the release. These include work at LaGuardia Airport, the new Terminal A at Newark Liberty International Airport and upgrades to JFK Airport.
The new 10-year plan also funds the Port Authority’s state-of-good-repair program. That includes projects such as the comprehensive rehabilitation of the George Washington Bridge, as well as a $640 million upgrade of the Lincoln Tunnel Helix and $336 million for the Outerbridge Crossing, according to the release.
The proposal is now subject to six public hearings and full Board of Commissioners consideration. The Port Authority Board of Commissioners will meet Dec. 18.
Source: Construction Dive
