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Port Authority of New York and New Jersey history
Port Authority of New York and New Jersey company history timeline
New York and New Jersey had agreed as early as 1834 to bear joint responsibility for the splendid waterways they shared, but nothing much had ever come of that pact.
The railroad was first planned in 1873 to link the major railroad stations in New Jersey with New York City.
Fearing loss of independence and profits, though, the railroads blocked that move. Its primary goal in the beginning was to resolve the question of freight rates that in 1911 had precipitated the authority's formation.
In 1916, New Jersey launched a lawsuit against New York over issues of rail freight, with the Interstate Commerce Commission (ICC) issuing an order that the two states work together, subordinating their own interests to the public interest.
In early 1917 he was able to convince politicians in New York and New Jersey to form a bistate commission to find a way to resolve their differences over the port.
The Harbor Development Commission, a joint advisory board set-up in 1917, recommended that a bi-state authority be established to oversee efficient economic development of the port district.
On Saturday, April 30, 1921, the nation's first large public authority was signed into being.
The Port of New York Authority was established on April 30, 1921, through an interstate compact between the states of New Jersey and New York.
By December 1921 it released a comprehensive plan that called for a coordinated system of railroad tracks, tunnels, and marine terminals designed to eliminate inefficiencies and spur economic growth.
In 1921, the states of New York and New Jersey received consent from Congress to form an interstate agency to develop and modernize the entire port district in order to improve commerce and trade.
Finally in 1924 Silzer and Ammann were able to persuade the Port Authority to build two smaller automobile bridges joining New Jersey to Staten Island, which would become the Outerbridge Crossing and the Goethals Bridge.
Construction began in 1927 on the George Washington Bridge, linking the northern part of Manhattan with Fort Lee, New Jersey, with Port Authority chief engineer, Othmar Ammann, overseeing the project.
Newark Airport, which opened in 1928, had been a pioneering facility, boasting the first paved runways and the first air traffic control tower.
In 1930, the Holland Tunnel was placed under the control of the Port Authority, providing significant toll revenues.
The George Washington Bridge, 1931. (New York Daily News)
The Bayonne Bridge, opened in 1931, was built across the Kill van Kull, connecting Staten Island with Bayonne, New Jersey.
They include, ironically, one of the world’s models for such undertakings, the Tennessee Valley Authority, established in 1933.
Early bond issues were tied to specific projects, but this changed in 1935 when the Authority issued General and Refunding bonds with a claim on its general revenues.
The new midtown tunnel, named the Lincoln Tunnel, would open in 1937 and add even more cash flow to the agency.
Rather than simply give the airports away, however, the city chose to lease them to the Port Authority, provided the agency agreed to develop and operate the facilities on a self-supporting basis. It soon became the busiest airport in the country, but was eclipsed in 1939 by a new airport built in the borough of Queens by Mayor Fiorello LaGuardia.
Meanwhile, the city-owned La Guardia Field was nearing capacity in 1939 and needed expensive upgrades and expansion.
In 1942, Austin J. Tobin became the executive director of the Port Authority.
After long negotiations with the City of New York, a 50-year lease, commencing on May 31, 1947, went to the Port Authority of New York to rehabilitate, develop, and operate La Guardia Airport (La Guardia Field), John F. Kennedy International Airport (Idlewild Airport), and Floyd Bennett Field.
New York City considered the creation of a city airport authority, but in the end it also turned to the Port Authority, which in 1947 took over LaGuardia Airport, as well as New York International Airport (later renamed John F. Kennedy Airport), which was under construction and opened a year later.
In 1950, the Port Authority opened a its midtown bus terminal to serve commuters.
The Port Authority then became involved in the revolutionary practice of containerization, which was introduced at Port Newark in 1956.
In 1949 the Port Authority added to its aviation portfolio by purchasing the small Teterboro Airport in the New Jersey Meadowlands. It opened a Heliport in lower Manhattan in 1960.
In 1962 the Port Authority established a standard when it opened the world's first all-container port facility, the Elizabeth-Port Authority Marine Terminal.
Finally in 1963 Greyhound gave up its 34th Street facility, as well as one on 50th Street, and began using the Port Authority Bus Terminal.
Others questioned the cost of the project, which in 1966 had risen to $575 million.
In 1972 it was renamed the Port Authority of New York and New Jersey to better reflect its status as a partnership between the two states.
In 1986, the Port Authority sold rights to the World Trade Center name for $10 to an organization run by an outgoing executive, Guy F. Tozzoli.
In 1995 George Marlin became executive director of the Port Authority and began instituting cost-savings measures that included budget cuts and layoffs.
First published on April 17, 1998 as part of the "Big Town" series on old New York.
2001: The twin towers and other buildings of the World Trade Center are destroyed by terrorists.
Dedicated toll lanes for one of the Fort Lee entrances (used by local traffic from Fort Lee and surrounding communities) to the upper level on the George Washington Bridge, which connects to Manhattan, were reduced from three to one from September 9–13, 2013.
The Port Authority's chairman, David Samson, who was appointed by Governor Christie, resigned on March 28, 2014, amid allegations of his involvement in the scandal and other controversies.
As of March 2014, the repercussions and controversy surrounding these actions continue to be under investigation by the Port Authority, federal prosecutors, and a New Jersey legislature committee.
In April 2018, Caren Turner resigned from the Board of Commissioners after an ethics investigation revealed that her attempt to intervene in a traffic stop for her daughter included what the Port Authority described as "profoundly disturbing" conduct.
At least 53 migrants found dead inside tractor trailer in TexasDozens of migrants were found dead in the back of an abandoned 18-wheeler in San Antonio, Texas on Monday night, June 27, 2022.
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Port Authority of New York and New Jersey competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| NJ Transit | 1981 | $1.1B | 7,500 | - |
| Solutions | 1986 | $460,000 | 50 | 2 |
| HMB | 1994 | $480,000 | 5 | 1 |
| CETA | 2011 | $19.0M | 50 | - |
| Environmental Safety Training Professionals | - | $670,000 | 7 | - |
| Harcourt | 1919 | $400,000 | 50 | - |
| Federal Reserve Bank Services | - | $4.1M | 1,625 | - |
| Angel Flight Australia | 1983 | $10.9M | 30 | - |
| Ronin | 2008 | $560,000 | 30 | - |
| NIC | 1992 | $344.9M | 901 | 101 |
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