The Port Authority of New York and New Jersey has announced that its 2023 budget would fund the largest security investment in the agency’s history. Almost $1 billion of the 2023 budget’s $8.3 billion is earmarked for funds to continue to strengthen security, including the agency’s cybersecurity posture.
“This budget continues our efforts to recover from the financial damage done by the pandemic when the volumes handled by Port Authority facilities were decimated,” said Port Authority Executive Director Rick Cotton. “Our proposed 2023 budget will provide funding for the highest spending on our security and cybersecurity agenda in the agency’s history and will also support capital spending to advance our $2 billion restoration at the George Washington Bridge, our Bus Terminal replacement project, our airport redevelopment projects, our PATH improvement and new fare payment system initiatives, and our seaport dredging and other initiatives.”
Read the full proposed budget statement at the Port Authority of New York and New Jersey
