"The logistics business has been an incredible part of how theregional economy has changed from manufacturing to services,"Coscia said. "Industrial development is the backbone of the economyin the Northeast and New York metropolitan area."

And while the various transportation-related activities operatedby the PA, including bridges, tunnels and mass transit, are moreobvious in their direct impact, "the port portion of Port Authorityactivities affects the most people because of all the goods andservices that move through the port." He conceded that one of thekey challenges the port and its ancillary development face is "theconstrained land environment." Still, things are getting done, hesaid, including the PA's recent $60-million land leasebuyback deal and proposed cargo terminal development for 119 acresin Jersey City. He explained that the PA has undertaken an"aggressive plan to invest in the port," an effort that has spent$1.6 billion in the past few years for everything from dredging totransportation improvements--including rail--and new terminals.

Coscia also told attendees that the PA would spend an additional$3 billion over the next decade to keep the process going. Besideskeeping up with the port's growth, "which has been in the 5% to 7%range every year for the past decade," the capital outlays are alsorelated to competition from other East Coast ports, which "are alsospending money because they see what we're doing." And for EastCoast ports in general, "the Panama Canal expansion will benefiteveryone," relating to shipping routes to Asia bypassing the WestCoast.