Increased Port Traffic Projected

NEWARK-Cargo volume at the Port of New York and New Jersey decreased throughout 2009 as the full effect of the economic downturn is realized.

Over the long term, however, the Authority is projecting cargo growth at the port, and is making investments in express rail and other infrastructure to support this growth. “Despite the challenging economic environment, the Port Authority’s facilities continue to outperform other major ports in North America, with container volume at the top 10 ports in North America declining by an average of 5% in 2008,” says Scott K. Perkins, managing director of corporate services at NAI Hanson.

In addition, the Port Authority reports that its $246-million investment last year is helping to support more than 230,000 jobs.One of the biggest challenges the port faces in the coming years is its inability to accommodate larger container ships, particularly those that will enter through the Panama Canal in 2014 when its expansion is complete.