Port Authority approves $32B bus terminal, PATH extension plan

The board of directors of The Port Authority of New York and New Jersey unanimously voted in favor Thursday of a $32 billion capital plan.

That plan includes building a new bus terminal, a PATH extension to Newark Airport, an AirTrain rail line between LaGuardia Airport and a subway line at Willet's Point; and two new Hudson River rail tunnels along with improvements on the Northeast Corridor line.

The bus terminal which would cost about $10 billion to build would be ready for operation in 2029 or 2030, officials said. More than 200,000 jobs would be created in its construction.

The old terminal opened in 1950 and was expanded in 1979.