Multimodal Investments Prove Vital to the Economic Development of the Region

Multimodal Investments Prove Vital to the Economic Development of the Region

September 8th, 2020 — BreakingWaves.com

Capital investments on behalf of The Port Authority of New York and New Jersey result in the long-term economic growth for the port industry, according to the 2020 Economic Impact Study by the New York Shipping Association. Investments close to $2.9 billion across projects spanning waterside, terminal, and landside infrastructure and equipment have reshaped and repositioned the Port to meet 21st-century needs. The raising of the Bayonne Bridge in 2017, has enabled neo-Panamax vessels exceeding 14,000 TEUs to call on all container terminals at the Port of New York and New Jersey. Additional significant investments included terminal buildings and berths, cargo handling equipment, intermodal rail infrastructure, completion of the Port Jersey on/near dock ExpressRail facility, roadways, security, and information systems.

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