Building upon the region's rich legacy of major public transportation assets, Governor Jon S. Corzine, Senators Frank R. Lautenberg and Robert Menendez, FTA Administrator Peter Rogoff and a group of other federal, state and local officials today broke ground on the Mass Transit Tunnel project, the largest transit public works project in America.

The $8.7 billion Mass Transit Tunnel (MTT) project, being built in partnership with the Port Authority of New York & New Jersey, is expected to generate and sustain 6,000 jobs through the construction phase of two new rail tunnels under the Hudson River, an expanded New York Penn Station and other key elements, reinvigorating the link between New Jersey and New York and benefiting the regional economy with improved mobility.  It is expected to create 44,000 permanent jobs.

Governor Corzine's remarks from the groundbreaking ceremony are below.

Governor Jon S. Corzine
Transit Tunnel Event
North Bergen, NJ
June 8, 2009

Thank you, and good morning.

Today, we are here to witness a truly historic moment…a moment born through a determination, a vision, to create a 21st Century transportation network for tomorrow, while creating jobs today.

And I want to thank those with us today who helped make this day possible:
Senator Lautenberg;
Senator Menendez;
Congressman Sires;
FTA Administrator Peter Ragoff;
   
…and members of the New Jersey Legislature who have supported this effort.

More than 80 years ago, our state and national leaders had the vision, the foresight, to undertake what represented some of the greatest feats of engineering of the time…the Holland, and later the Lincoln tunnels.

The concept was revolutionary: tunneling underneath the Hudson River to improve access to Manhattan.

But times have changed…as a more mobile society we, as a nation, demand greater access to the business centers in New York City.

When we consider the environmental impact of tens-of-thousands of cars on our roads, quality of life issues, and impediments to commerce, a Mass Transit Tunnel is not a luxury…it is a necessity.

As such, today I am pleased that we will turn the first spades of earth to launch the construction of a Mass Transit Tunnel from New Jersey to Manhattan.

The State of New Jersey has committed $5.7 billion in funding for this project…and the federal government – thanks to the hard work of Senator Lautenberg, Senator Menendez, and our Congressional delegation – has committed $400 million, including $130 million in American Recovery and Reinvestment Act.

The contributions of this project will be substantial…first and foremost, it will mean much-needed, good-paying jobs that will help boost New Jersey out of the current global economic recession.

Essentially, with the Mass Transit Tunnel estimated at $8.7 billion, our region has the capacity to generate 6,000 new jobs per year at a time when our unemployment rate is rising.

In addition, the American Public Transit Association calculates that every dollar spent on public transportation generates about $6 in economic returns. That means that the tunnel could create $45 billion of new economic activity that will benefit residents throughout the region.

In addition to the 6,000 construction jobs, the project will support 44,000 permanent jobs when open in 2017.

During construction, the tunnel will generate $660 million in new Gross Regional Product and $390 million in Real Personal Income annually.

Today, our journey begins: a journey toward greater mobility, greater accessibility, a cleaner environment, and countless new economic opportunities.

I want to thank those who have supported New Jersey in this vision for the future…for the jobs created today, and for the quality of life and economic boost it will provide both today and tomorrow, it is unquestionably the right thing to do for New Jersey.

Thank you.