Multi-Billion Dollar Budget Submitted For New York Area Airports In 2024

Yesterday, the Port Authority of New York and New Jersey released its proposed 2024 budget of $9.3 billion, some of which will be used to advance major projects at John F. Kennedy Airport and the new AirTrain system serving Newark Liberty Airport.

The budget includes $3.9 billion in operating expenses, $3.6 billion in capital expenses and $1.8 billion for debt service and deferred expenses. In its announcement yesterday, the Port Authority of New York and New Jersey (Port Authority) said the proposed budget reinvigorates the agency’s commitment to modern, secure facilities as activity and net revenues continue their recovery across its facilities post-COVID.

Pushing ahead at JFK

The capital expenditure of $3.6 billion has not returned to pre-pandemic levels and comes after several years of reduced spending. Capital spending on aviation focuses on advancing the redevelopment of John F. Kennedy International Airport (JFK) into “a unified, world-class international gateway.” The total cost of the airport’s redevelopment is $19 billion and includes two new terminals, expansion and modernization of existing terminals supported by streamlined roadways.

Photo: Allen.G/Shutterstock

The JFK redevelopment is creating around 9,600 direct and 15,000 indirect jobs, and of the total $19 billion project cost, more than $15 billion will come from private funding. In 2018, JFK handled 60 million passengers, and the redevelopment is a key part of its projected growth to 75 million passengers annually by 2030. The airport generates more than $16 billion in wages and supports nearly 300,000 jobs across the region.

Air travelers will also benefit from the new AirTrain Newark system investments that will replace the current outmoded system serving Newark Liberty International Airport. That project funding also includes advancing the EWR Station access project that will expand rail and airport access for underserved Newark and Elizabeth communities. In March this year, the Port Authority authorized $12 million for the planning and preliminary design of the EWR access project to improve access to the airport with a new multimodal facility at the AirTrain Newark Rail Link Station.

When completed the project will promote the use of public transport, and New Jersey Governor Phil Murphy said that enhancing connectivity means expanding opportunity that for far too long had remained out of reach for historically excluded communities in the state. Newark Liberty International contributes more than $29.3 billion in annual economic activity to the New York – New Jersey metropolitan region, supporting more than 128,000 total jobs and nearly $10.8 billion in annual wages.

Better access to LaGuardia

The Port Authority budget also includes planning and preliminary work for a new express bus service for access to and from LaGuardia Airport and improvements to MTA New York City Transit’s Q70 LaGuardia Link Select Bus Service. Part of the project includes a recommendation for a new nonstop shuttle service between the airport and the last stop on the N/W subway line at the Astoria-Ditmars Blvd station, serving all three of LaGuardia’s terminals.

 Photo: Vincenzo Pace | Simple Flying

The shuttle system is proposed to use fully electric buses to eliminate noise and emissions and travel on dedicated bus lanes with transit signal priority during peak times on 31st Street and 19th Avenue. The recommendation said that a “one-seat ride via subway” would be the most effective way to shift travelers from cars to mass transit.

The public can lodge comment on the budget until December 11, and it will then be on the agenda for a Port Authority Board meeting to be convened on December 14, 2023.