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Rick Cotton talks Port needs at press conference.
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Jeff Yapalater
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Port needs $3 billion
Seeks broad support
BY JEFF YAPALATER
Port Authority Executive
Director Rick Cotton took to
the road on Wednesday May 20
visiting both JFK and Newark
Airports taking the opportunity
to highlight the economic
importance of these airports
and seeking $3 billion from
Congress in relief funds to
offset high losses created by
the Coronavirus. Speaking at
Terminal 5 with the JFK air
traffic control tower and the
TWA hotel as a backdrop, Cotton
stated,“ I’m here in connection
with the announcement
of our ask to Washington
for federal aid. I am delighted
that more than 20 partners of
the NYNJ congressional delegation
are supporting our request,
” he said.
Cotton was referring to
the letter to House and Senate
Congressional leaders written
by other members of Congress
supporting financial assistance
to keep the Port’s capital
program alive. Said Cotton,
“The point of our request
is to continue providing New
York and New Jersey with
21st century facilities, facilities
which they deserve. “ He
said that right now Congress
is debating aid to state and
local governments, counties
and municipalities and that
the Port Authority is a multistate
agency and deserves to
be treated as such and be eligible
for similar funding.
“We’ve had a $3 billion
hole blown into our revenue
sources. That means at risk is
$20 billion in capital spending
, capital projects such as JFK
redevelopment, Newark and
LGA Airtrains, bus terminal,
all that will contribute to a
strong economic recovery in
the wake of this Coronavirus
crisis.” As formulated, the
Capital Plan would drive
$20 billion of capital to critical
infrastructure projects during
the next five years alone,
generate more than 100,000 local
jobs, and would rely on a
set of public-private partnerships
and on commitments of
more than $10 billion in private
capital to drive economic
activity.
Cotton said he was delighted
that NYNJ delegation’s
letter supported the
Port’s request that was sent to
members of Congress weeks
ago but has not been acted
upon. Saying that the bigger
picture is that volumes at
airports and facilities have
fallen at astonishing rates
due to corona virus crisis.
“Our airport volume is down
almost 97% over a year ago,
and almost as much with vehicle
and truck transportation
in the two states. “This
is truly astonishing and unprecedented."
He went further to explain
that normally the Port is fully
self sustaining and self funded
with Port not receiving federal
nor state dollars. Port’s
revenue is based on business
arrangements with the commercial
partners, travel volumes
fees, bridge and tunnel
fares and tolls.
However, during this crisis,
Port needs aid from the
federal government in the
same way as local governments
and agencies. “We are a
local government agency and
face the same crisis as others
local governments. While we
understand that resources
are needed across the board, a
healthy, fully functional Port
Authority is critical to our
region’s recovery from this
crisis. Assistance will ensure
that the Port Authority can
continue operating throughout
this crisis and serve more
than 20 million people who
live and work in the region as
our nation recovers from the
pandemic. The Port Authority
also employs 8,000 workers directly,
and its facilities support
1 million regional jobs.
These jobs are essential to the
economic recovery of our region."
Asked how such funding
would trickle down to the local
stakeholders at JFK Cotton
said, “We want to rebuild
this airport. It comes down
that we can be able to proceed
with construction spending
that is an enormous driver
of economic activity. Tens of
thousands of jobs are stimulated
at the airports and other
infrastructure facilities. “We
have made an enormous effort
to make sure there are not just
construction jobs that benefit
local community and businesses
but enormous materials
of services are required,
skilled operations off airport
but supporting the projects.
The longer term benefits the
region by having 21st facilities
which are part of our recovery
bringing travelers and business
back spending money
and furthering the economic
activity on abroad basis,” Cotton
explained.
Recently Governor Cuomo
created the NY Forward Advisory
Board. A few of the
selected business members
are investors in the JFK redevelopment
projects. Asked
whether these business leaders
could positively add to
the ask by the Port Authority,
Cotton responded, “ We
hope everyone will join hands
and help advocate for the aid
we are asking for. The letter
from the bi-state bipartisan
coalition delegation is so important.
This is a broad partnership
involving entities
that will provide jobs, a coalition
that includes community
representatives that see the
training we want to do, the
capacity building, and working
hard with small business
around the airport to insure
ability to bid on jobs, provide
concessions and training, provide
jobs for skilled trades,
and aid to local educational
institutions that will provide
both education and opportunity.
This is a community
wide and regional wide effort.
We are looking for everyone to
work with us and congress in
advocating our ability to continue
these initiatives. Our
ask is straightforward. We
are grateful to members of
the delegation and are working
hand in glove with them,
advocating for aid which is so
critical.”