The Gateway Development Commission (GDC) commissioned a new economic impact analysis of the first five contracts in active construction on the Hudson Tunnel Project (HTP) which found that work underway will support 20,200 direct, indirect, and induced full-time equivalent (FTE) workers while generating $4.5 billion in economic output and $1.7 billion in labor income.
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“When the Hudson Tunnel Project is complete it will deliver 21st century transportation reliability for millions of passengers. Today it is delivering good jobs for workers and new business for American companies,” said GDC CEO Tom Prendergast. “Every time we launch work on a new construction site for this megaproject, we have a major positive impact on the economy. It’s essential that we keep up the forward momentum and remain vigilant about its scope, schedule, and budget.”
The jobs and economic impact from investing in the HTP overwhelmingly benefits domestic workers and businesses, with 94% of the $2.2 billion in capital spending from active construction expected to remain within the United States. Moreover, construction in the New York metro region is supporting labor income across the country. Every $10 spent on direct labor for the first five contracts supports $17 in wages and benefits nationwide.
