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New York/New Jersey port authority green lights $7.2 billion spending plan for 2011


The Port Authority of New York and New Jersey (PANYNJ) recently approved a $7.2 billion 2011 budget.

The spending plan includes $3.9 billion for capital expenses, including $1.9 billion to continue developing the World Trade Center site, and $247 million for new Port Authority Trans-Hudson rail cars and signal system improvements.

The budget also includes $2.5 billion for operating expenses, $701 million for debt service and $47 million for other expenses, such as the purchase of snow equipment and other agency vehicles and “major technology equipment,” according to a prepared statement.

In addition, PANYNJ plans to reduce its headcount by 200 positions, shrinking its workforce to the lowest level in 40 years.

Contact Progressive Railroading editorial staff.

More News from 12/8/2010