Port Authority’s $10.3bn budget advances major redevelopment projects at JFK and Newark airports

The Port Authority of New York and New Jersey has unveiled a proposed $10.3 billion budget for 2027, including significant investment in the continued redevelopment of John F. Kennedy International Airport and Newark Liberty International Airport.

The proposed budget allocates $4 billion to annual capital spending, supporting major construction programmes across the agency’s facilities, with airport modernisation among its key priorities.

At JFK International Airport, funding will support the ongoing transformation of the airport, including completion of the first phase of the new Terminal 1 and construction of a new ground transportation centre. The wider redevelopment programme is intended to modernise airport infrastructure and improve the passenger experience.

At Newark Liberty International Airport, investment will continue in the replacement of the existing AirTrain system, which has passed its useful life. The new AirTrain Newark is being designed to accommodate increasing passenger demand while improving the experience for airport visitors and employees.

The Port Authority will also continue planning and design work for a new Terminal B at Newark Liberty, alongside an expansion of the airport’s Terminal A.

Further improvements to airport accessibility are also included in the proposed budget. Work will continue on mass transit access improvements at LaGuardia Airport, while a new entry point to the Newark Liberty International Airport Train Station is nearing completion. The facility will provide an additional access point served by AirTrain Newark, Amtrak and NJ TRANSIT, extending transport connections to areas of Newark and Elizabeth that have historically been underserved.

The proposed 2027 operating budget also includes substantial funding for maintenance, security and the reliable operation of the Port Authority’s facilities. More than $1.1 billion is earmarked for security investments across its network, including new technologies and initiatives addressing evolving cybersecurity threats.

Nearly $1 billion will be allocated to maintenance across the agency’s facilities, with an additional $25 million for major repairs addressing the effects of extreme weather on existing infrastructure.

The Port Authority said the proposed budget would maintain momentum behind its long-term infrastructure programme while ensuring that existing facilities remain safe, reliable and capable of meeting future demand.

Port Authority Chairman Kevin O’Toole said: “This proposed budget reflects both priorities equally, advancing generational transformations to our transportation network, while investing in critical state-of-good repair projects for our legacy facilities in both states.”

Executive Director Kathryn Garcia added that the programme would keep major projects moving forward, including the transformation of JFK and Newark airports, alongside investment in safety, reliability and everyday operations.

The agency also highlighted progress made during 2026. At JFK, two new terminals are approaching completion and opening to passengers, while at Newark Liberty construction has advanced on the airport’s new AirTrain system and redevelopment of the airport’s rail station. Planning and design work also began on the expansion of Terminal A.

LaGuardia Airport was also recognised as the nation’s best airport for a third consecutive year by Forbes Travel Guide.

The proposed 2027 budget comprises $4.5 billion in operating expenses, $4 billion in capital spending, $1.7 billion in debt service and $100 million in deferred expenses. The Port Authority’s Board of Commissioners is expected to consider adoption of the budget, subject to any amendments following public consultation, at its meeting on 17 December 2026.

Other infrastructure investment: The capital programme also includes replacement of the Midtown Bus Terminal, improvements to the George Washington Bridge, Lincoln Tunnel and Outerbridge Crossing, upgrades to PATH rail infrastructure, and continued investment in the Port of New York and New Jersey. These projects form part of the wider $4 billion annual capital spending programme.