Hudson Tunnel Project to Generate $19.6B in Economic Activity; 95K Jobs

On Apr 29, 2024

A new report released by Regional Plan Association (RPA) finds that the Hudson Tunnel Project (HTP) will generate $19.6 billion in economic activity and create approximately 95,000 jobs during its construction – an increase of 20,000 jobs over previous estimates.

The report utilizes research done on behalf of the Gateway Development Commission (GDC) that found the three early works components of the Hudson Tunnel Project currently underway, which represent roughly $1 billion in awarded contracts, will yield 7,500 jobs and generate $625 million of labor income. The new estimates of the project’s overall impact were obtained by extrapolating this analysis over the $16 billion in total construction spend for the Hudson Tunnel Project.

Read the full report here.

“The $1 billion in construction contracts we’ve awarded so far are already creating thousands of jobs and pumping millions of dollars into the economy, and that’s only the beginning,” said GDC CEO Kris Kolluri. “Now this report shows the overall impact of the project will be even greater than we thought, and that the Hudson Tunnel Project is a big win for the region and the nation.”

“The Hudson Tunnel Project is the most pressing infrastructure project of our time, and it will bring enormous benefits to our region and nation,” said Tom Wright, President and CEO of RPA. “This new report emphasizes the broad economic benefits of the project, which are already being generated by $1 billion in early work contracts. RPA’s research has found that the economic ties of the region are strong, and that a reliable, 21st-century transportation system is essential to maintaining this connection. The Hudson Tunnel Project will set the stage for long-term economic growth by connecting more residents to jobs in the region and expanding the size of the workforce that employers can draw from.”

Active construction of the HTP is underway on both sides of the Hudson River, at the Tonnelle Avenue Bridge and Utility Relocation Project in New Jersey and the Hudson Yards Concrete Casing Section 3 (HYCC-3) Project in New York. When construction of the Hudson River Ground Stabilization (HRGS) Project begins in July, more than $1 billion worth of construction activity will be in the ground.

GDC recently announced that it has submitted all documents required by the Federal Transit Administration (FTA) to reach a Full-Funding Grant Agreement (FFGA) for $6.88 billion in Capital Investment Grants (CIG) Program funding for the HTP, clearing the way for the HTP to secure all $16 billion needed for the project’s full delivery.

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