The Port of New York and New Jersey launched a new development framework amid a record growth in cargo volume. The ‘Port Master Plan 2050’ includes a detailed two and a half year review of more than 3,000 acres of port property.
Specifically, the plan will build on earlier planning work in the 1990s that resulted to the deepening of port channels to 50 feet, the raising of the Bayonne Bridge, container terminal expansions, realignment of and capacity enhancements to port roadways and the completion of the port’s $600 million ExpressRail network.
The port has as a priority to:
- provide opportunities for growth through stakeholder engagement;
- improve the port’s commercial value by investigating opportunities to maximize lease revenue;
- continue to serve as an economic engine for the region;
- promote safe, resilient and environmentally sustainable operations in partnership with its tenants.
According to the port’s statement, the master plan was launched at a time when the Port of NY and NJ was experiencing record cargo growth, placing it in the second place in the nation, for the first time in two decades, surpassing the Port of Long Beach.
Moreover, in the first five months of 2019, the port achieved an all-time record for cargo, handling 3.04 million TEUs.
This plan will continue the momentum we have built and drive this port to new heights that two decades ago would have seemed impossible to achieve.
… stated Port Authority Chairman, Kevin O’Toole.
With the completion of the plan, the Port Authority will now begin implementing the key findings and recommendations including a series of further studies, analysis and design work.
