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Naiop: Port Facilities Are Region's Economic Driver

EAST RUTHERFORD, NJ-Port Authority chairman calls on developers to build more space to support the port's growth.

By Eric Peterson | Updated on April 02, 2008

EAST RUTHERFORD, NJ-Calling the port facilities overseen by the Port Authority of NY/NJ “the region’s economic driver,” PA chairman Anthony Coscia called upon industrial developers to build “complementary development” of new W/D facilities to support the port’s growth. “We will work with you and encourage the development of off-port property,” keynoter Coscia told attendees at Naiop’s Industrial Conference here Wednesday.

“The logistics business has been an incredible part of how the regional economy has changed from manufacturing to services,” Coscia said. “Industrial development is the backbone of the economy in the Northeast and New York metropolitan area.”

And while the various transportation-related activities operated by the PA, including bridges, tunnels and mass transit, are more obvious in their direct impact, “the port portion of Port Authority activities affects the most people because of all the goods and services that move through the port.” He conceded that one of the key challenges the port and its ancillary development face is “the constrained land environment.” Still, things are getting done, he said, including the PA’s recent $60-million land lease buyback deal and proposed cargo terminal development for 119 acres in Jersey City. He explained that the PA has undertaken an “aggressive plan to invest in the port,” an effort that has spent $1.6 billion in the past few years for everything from dredging to transportation improvements–including rail–and new terminals.

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