Media Kit » Try RailPrime™ Today! »
Progressive Railroading
Newsletter Sign Up
Stay updated on news, articles and information for the rail industry

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

View Current Digital Issue »


Rail News Home Rail Industry Trends


Rail News: Rail Industry Trends

New York/New Jersey port authority signs off on $5 billion budget


Yesterday, the Port Authority of New York and New Jersey (PANYNJ) approved a $5 billion 2006 budget that includes $2.3 billion for operating expenses and $1.9 billion for capital improvements.

The budget also includes a record $616 million in security spending, as well as funds to hire additional police officers.

Under the 2006 capital plan, PANYNJ will continue constructing the World Trade Center Transportation Hub, which will feature a permanent Port Authority Trans-Hudson terminal, and procure 340 passenger cars.

The port authority plans to cut costs by $100 million next year, and generate revenue through advertising and sponsorship programs.

Contact Progressive Railroading editorial staff.

More News from 12/9/2005