The plan, which is subject to board approval, covers the years 2014 through 2023 and PANYNJ says it will serve as a regional economic engine, resulting in 126,000 total job years and $29 billion in economic activity.
The capital program includes three major PATH projects: the replacement of the Harrison PATH Station, the modernization of the Grove Street PATH Station and the PATH extension to Newark Liberty International Airport Rail Station.
The $249-million Harrison Station project involves construction of a new station to replace the existing facility, which was built in 1936. The new station will feature a glass-enclosed entrance with entrances on both the westbound and eastbound sides of the station.
The $192-million Grove Street project will provide improvements to accommodate 10-car train operations.
The $1.5-billion PATH extension to Newark Liberty International Airport Rail Station will, for the first time, give travelers a one-seat ride from Lower Manhattan to Newark Liberty International Airport. It involves the extension of PATH from its current terminus at Newark Penn Station to the airport's Rail Link Station.
Additionally, there are 71 core PATH projects in the program, of which 57, or 77 percent, are state of good repair work and more than $700 million dollars will be invested in PATH for Superstorm Sandy-related repairs.
"The proposed 10-year capital plan is a transformational moment in PANYNJ history," said Port Authority Executive Director Patrick Foye. "Under the leadership of Governors Cuomo and Christie, the agency has undergone a rigorous, data-driven process to identify and prioritize the most important capital projects, including significant investment in state of good repair projects that strengthen the region's aging transportation infrastructure, while also enhancing transportation capacity and service for our customers."