“The Partnership for New York City represents the city’s business leaders and largest private sector employers. We work together with government, labor and the nonprofit sector to promote economic growth and job creation in New York.
Cross Hudson access is a critical issue for the New York City business community. Half of the jobs in the city are at companies with more than 500 employees. Virtually all these large companies have business operations and employees who live on both sides of the Hudson River. Based on our analysis, every hour delay on New Jersey Transit costs New York business $5.9 million. The economic consequences of a failure in the 100 year old tunnels would be enormous for both the affected businesses and for our entire region.
The recurring delays and problems with current cross-Hudson access are evidence the North River Tunnels cannot handle the 100 percent ridership increase that is expected by 2040. This is a national issue because our region generates 9 percent of the economic output for the entire country. The Hudson tunnels connect the nation’s most important financial and commercial center with the rest of America.
The elected leadership of New York and New Jersey, our Congressional delegations, transit advocates and business leaders are committed to doing everything in their powers to move the Gateway project forward. Hopefully, the White House and Congress will agree to a new national infrastructure initiative that is aggressive enough to fund critical projects, including Gateway. We are prepared to mobilize the expertise and private capital needed to launch a national rebuilding program, assuming the White House and Congress can agree on its terms. This is clearly a necessity for America’s future as a global economic power and should be the top priority of the federal government in 2018.”