New York Construction Report staff writer
The Port Authority of New York and New Jersey has released a proposed $45-billion capital plan for 2026–2035, outlining a decade of major investments to modernize and expand the region’s transportation infrastructure while completing the ambitious program launched in 2017.
The capital plan is expected to generate more than 33,000 union construction jobs and will now move to public consultation before consideration by the Board of Commissioners.
Watch the video presentation here.
The proposal funds the final stages of several megaprojects now underway — including a new Midtown Bus Terminal, the ongoing redevelopment of John F. Kennedy International Airport and Newark Liberty International Airport, and upgrades under the PATH Forward program — while advancing the next wave of large-scale improvements across the agency’s network.
Under the plan, the Port Authority would deliver a new, iconic Midtown Bus Terminal to replace the 75-year-old facility; complete the transformation of JFK into a world-class aviation hub, including a major upgrade of the AirTrain JFK system; and continue the rebuild of Newark Liberty, centred on a new Terminal B, a new AirTrain Newark and work outlined in the EWR Vision Plan. At LaGuardia Airport, the agency proposes a full reconstruction of Terminal A that preserves the landmark rotunda. PATH riders would see a new era of service with more direct trips, higher frequency and improved reliability.
The plan also covers the agency’s $2.7-billion contribution to the Gateway rail program and commits major funding to state-of-good-repair work, including rehabilitation of the George Washington Bridge, the Lincoln Tunnel Helix and the Outerbridge Crossing. Investments in sustainability, innovation and physical and cyber-security are also included.
The Port Authority is self-funded and receives no taxpayer money from New York or New Jersey. Two-thirds of its revenues come from non-toll and non-fare sources such as leases, landing fees and charges to businesses operating at its facilities.
Chairman Kevin O’Toole said the proposed plan builds on “an historic decade of achievement” and continues a 104-year tradition of delivering major infrastructure. “This record $45-billion proposed 2026–2035 Capital Plan builds on a legacy of connecting this region through bold, forward-looking, best-in-class infrastructure that will drive our economy,” he said.
The agency has advanced an unprecedented slate of major projects since 2017, including a rebuilt LaGuardia Airport, Newark Liberty’s new Terminal A, two new Staten Island bridges and significant progress on JFK’s multibillion-dollar redevelopment. It also delivered major upgrades to the PATH system and completed large bridge and tunnel rehabilitation work across the network.
Alongside the capital proposal, the Port Authority released its proposed 2026 operating budget of $10.1 billion. It includes $4.2 billion for operations, $4.1 billion for capital spending, $1.7 billion for debt service and a record $1.1 billion dedicated to safety and security.
Executive director Rick Cotton said the plan will “deliver the next chapter of transformation,” noting that the agency has turned long-questioned ideas into award-winning infrastructure. Vice-chair Jeffrey Lynford said the plan arrives as the region undergoes its largest infrastructure renewal since the post-war era.
