The federal government will provide a $292 million grant for the Hudson River Tunnel, often known as the Gateway Project.
At a ceremony held at the West Side Rail Yard in Manhattan to announce the funding, President Joe Biden was accompanied by Secretary of Transportation Pete Buttigieg, New York Governor Kathy Hochul, and New Jersey Governor Phil Murphy.
The Nation's Long-Term Infrastructure Investment
The Bipartisan Infrastructure Law, the nation's largest-ever long-term infrastructure investment totaling $550 billion in federal funding, will provide the grant for the Gateway Project.
With the help of the funding, Hudson Yards will be supported by a new tunnel by installing concrete casing and other structural components beneath it. When finished, the new tunnel will be 10 miles long and offer a direct link between Pennsylvania Station in Manhattan and the Palisades in New Jersey.
The Gateway Project also involves fixing a train tunnel that runs beneath the Hudson and was severely damaged by Hurricane Sandy in 2012.
When the tunnels are fully operational, 2,200 more trains per day will be able to enter and exit New York City, according to estimates.
The Project Will Provide 72,000 New Employment Opportunities
$16.1 billion is the anticipated total cost of the project. Around 72,000 employments are anticipated to be generated by the project.
Governor Hochul declared, "I'm going to take advantage of this almost $300 million in funds to be a catalyst to get this project moving—the first tangible step to make this historic endeavor a reality. And don't forget, we adore moving people and building infrastructure. A total of 72,000 employees are related to this project."
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