New York-New Jersey port budget focuses on air, trade center projects
The Port Authority of New York and New Jersey said under its $5.7 billion for 2007, capital spending will increase 30 percent while operating expenses are to be flat.
Major capital projects include redevelopment of the World Trade Center site, new cars for the PATH commuter train, a new tunnel for passenger trains, upgrades at Terminal B at Newark Liberty International Airport, and a new passenger terminal at John F. Kennedy International Airport.
The port said security spending in 2007 will be $454 million plus $225 million for security capital projects. Last year security spending was $616 million.
Capital spending by the port commerce department is slated to drop to $190.6 million from $225.6 million last year.
New York-New Jersey port budget focuses on air, trade center projects
