At the announcement ceremony conducted at the West Side Rail Yard in Manhattan, President Joe Biden was joined by Transportation Secretary Pete Buttigieg, New York Governor Kathy Hochul, and New Jersey Governor Phil Murphy.
The Nation’s Long-Term Infrastructure Investment
The grant for the Gateway Project will be provided by the Bipartisan Infrastructure Act, the nation’s greatest ever long-term infrastructure project totalling $550 billion in federal funds.
With the aid of the money, a new tunnel will be constructed beneath Hudson Yards and supported by a concrete casing and other structural components. When completed, the 10-mile-long tunnel will provide a direct connection between Pennsylvania Station in Manhattan and the Palisades in New Jersey.
The Gateway Project also entails repairing a train tunnel that was severely damaged by Hurricane Sandy in 2012.
When the tunnels are completely operational, an estimated 2,200 additional trains per day will be able to enter and exit New York City.
The Project Will Provide 72,000 New Employment Opportunities
The expected overall cost of the project is $16.1 billion. This project is expected to generate approximately 72 thousand jobs.
Governor Hochul announced: “I will use this nearly $300 million in cash as a stimulant to get this project off the ground, taking the first concrete step toward making this historic initiative a reality. Also, we enjoy moving people and constructing infrastructure. 72,000 employees are associated with this project.”
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