Super Investment for Super Bowl
Even as we were all preparing for SuperBowl XLVI (Congratulations Giants!), the Port Authority of New York & New Jersey was thinking about 2014, when the “Big Game” will be held at the Meadowlands. The Port Authority and its private partners recently announced a total of $70 million in private sector investments to Newark Liberty International Airport with the goal of improving readiness for the influx of visitors.
United Airlines has committed to investing at least $25 million in a new wide-body aircraft hangar, while private flight provider Signature Flight Support is putting $11 million into a LEED-certified new passenger terminal and ramp renovations.
And in exchange for a 40-year extension of its lease, Host Hotels & Resorts, which owns the airport Marriott, will invest $34 million in capacity and infrastructure improvements. These investments are expected to create over 540 jobs and $30 million in wages.
“The investments we are making will ensure that our region remains vibrant and competitive,” Port Authority chairman David Samson said in the announcement.
And even though the last few years have been pretty good for Giants fans, we should all benefit from the preparations being undertaken now for when the Giants and Jets face off in a home game Super Bowl (I can dream, can’t I?).
(To search across all ALM blogs, go to www.Lexis.com.)
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