Capital investments on behalf of The Port Authority of New York and New Jersey result in the long-term economic growth for the port industry, according to the 2020 Economic Impact Study by the New York Shipping Association. Investments close to $2.9 billion across projects spanning waterside, terminal, and landside infrastructure and equipment have reshaped and repositioned the Port to meet 21st-century needs. The raising of the Bayonne Bridge in 2017, has enabled neo-Panamax vessels exceeding 14,000 TEUs to call on all container terminals at the Port of New York and New Jersey. Additional significant investments included terminal buildings and berths, cargo handling equipment, intermodal railRead More →

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In: Capital Investments, Econ Insight

The Port of New York and New Jersey continues to serve as an integral part of the economic performance of the region, according to the 2020 New York Shipping Association Economic Impact Study. The port industry grew substantially, supporting over 500,000 jobs and $147 billion in economic activity, including federal and state tax revenue, business and personal income. Inclusive of this report is the Port’s 2019 record-breaking performance with: More than 7.4 million 20-foot equivalent containers (TEUs) Close to 578,000 vehicles Over 49.8 million tons of bulk cargo Nearly 140,000 tons of breakbulk cargo 304 cruise vessels In general, maritime operations through the Port haveRead More →

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In: Cargo Volumes, Econ Insight, Workforce Development

The Port of New York and New Jersey is fully open and operational. As 2020 pushes forward, our port partners, the New York Shipping Association released The 2020 Report on the Economic Value of the New York-New Jersey Port Industry. This comprehensive report gives a thorough look at the quantitative measurement of the jobs, incomes, production of goods and services and revenue for both states produced by the maritime activities. The 2020 report summarizes two regional economic impact streams generated by the port industry: the value of port operations and the value associated with the billions of public and private dollars invested in port relatedRead More →

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In: Econ Insight, Industry News/Advisory

From attire to accessories, the right combination of textile, color, and pattern allows us to express our personalities, ambitions, and, most importantly, our sense of style. In New York City, the largest retail market in the country, the desire to shop is fueling a growing apparel market, accounting for more than $15 billion in annual sales. While going to a favorite store to search for a particular item may be easy to do, it is the result of a long, concentrated process—and the Port of New York and New Jersey plays a pivotal role in this process. More than 900 fashion companies are headquartered inRead More →

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In: Econ Insight, Industry News/Advisory

The office Alexander Heil, Chief Economist for The Port Authority of New York and New Jersey, has just released Econ Insight podcast Episode 26. Wherein Port Authority transportation analysts Jeffrey Brauner & Ahmed Ismail cover the integrated geospatial data analysis being performed at the agency to better understand cross-harbor freight activity and its relationship to regional markets.  Listen to the podcast here: ow.ly/egjD30hx9mb *     *     * For more information on the Port of New York and New Jersey, please visit: www.portnynj.com. Follow the Port of NY & NJ on Twitter: @portnynj. Follow the Port of NY & NJ on Instagram: @portnynj. Follow the Port of NY& NJ LinkedIn Users Group: https://www.linkedin.com/groups/3822045.Read More →

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In: Econ Insight