BAYONNE, NJ-The Port Authority Board of Commissioners has agreed to provide up to $1 billion in its capital planning process to help finance a solution to the Bayonne Bridge height issue. A comprehensive planning analysis is now underway to determine a cost-effective solution to the bridge clearance issue, which, as has been widely reported, will pose a navigational problem for larger ships trying to access the Port of New York and New Jersey after the Panama Canal expands in 2014. A prioritized rank of project alternatives will be completed by the end of the year, and the next steps in the program will be expedited at that time.

Options include modifying the existing bridge by jacking the current 151-foot road deck, creating a lift bridge mechanism at the center of the span or building a new taller bridge or a tunnel below the river.

Port Authority chairman Anthony R. Coscia said in a statement, "Our region's economic fortunes have always been tied to the vitality of our seaport. Today's financial commitment will ensure that the seaport remains the leading destination for shippers on the East Coast, helping to preserve hundreds of thousands of jobs and billions in economic activity."