Govs. Chris Christie and Andrew M. Cuomo committed Thursday to fund 100 percent of New York and New Jersey’s share of the new Gateway Tunnel. The commitment follows a 2015 framework agreement in which the federal government will fund 50 percent of the Gateway Tunnel project, an essential portion of the Northeast Corridor that connects New York and New Jersey and is the nation’s most urgent, critical major infrastructure project.
The $12.7 billion Gateway Hudson Tunnel project consists of three elements: a new two track tunnel, the Hudson Yards concrete casing and the rehabilitation of the existing Amtrak North River Tunnel. The commitments announced include $1.9 billion by NJ Transit, $1.75 billion by the State of New York and $1.9 billion previously committed by the Port Authority of New York and New Jersey Board of Commissioners. Together, these commitments, totaling $5.55 billion, fully fund 100 percent of the local share for the most urgent, time sensitive elements of the project — the construction of a new tunnel and the Hudson Yards concrete casing which totals $11.1 billion of the $12.7 billion construction cost.
“The commitments we make today mark a pivotal milestone in the construction of the Hudson River Tunnel Project, and builds on the work we began earlier this year with the early construction of the Portal North Bridge Project. It positions the project to immediately compete for federal capital investment grant funds,” said Christie. “The Hudson Tunnel Project is critical to the regional and national economy, and protects against a potentially disastrous scenario of a closure of one of the two tubes of the existing North River Tunnel. Together, with the rehabilitation of the existing tunnel, this project will result in the crucial Northeast Corridor having four tracks between New Jersey and New York under the Hudson River, allowing for increased ridership in the future.”
“The Gateway Tunnel is critical to the long term vitality of the entire Northeast region and one of the most important infrastructure projects in the country,” said Cuomo. “New York State is stepping up to fund its share of the financial commitment as we rebuild our infrastructure all across the state. Now the federal government must fulfill its commitment to fund the other half and make this urgent, long-overdue project a reality.