Port Authority of New York and New Jersey

The Port Authority of New York and New Jersey, (PANYNJ; stylized, in logo since 2020, as Port Authority NY NJ) is a joint venture between the U.S. states of New York and New Jersey, established in 1921 through an interstate compact authorized by the United States Congress. The Port Authority oversees much of the regional transportation infrastructure, including bridges, tunnels, airports, and seaports, within the geographical jurisdiction of the Port of New York and New Jersey. This port district is generally encompassed within a radius of the Statue of Liberty National Monument. The Port Authority is headquartered at 4 World Trade Center. The Port Authority operates the Port Newark–Elizabeth Marine Terminal, which handled the third-largest volume of shipping among all ports in the United States in 2004, and the largest on the Eastern Seaboard. The Port Authority also operates six bi-state crossings: three connecting New Jersey with Manhattan, and three connecting New Jersey with Staten Island. The Port Authority Bus Terminal and the PATH rail system are also run by the Port Authority, as well as LaGuardia Airport, John F. Kennedy International Airport, Newark Liberty International Airport, Teterboro Airport and Stewart International Airport. The agency has its own 2,232-member Port Authority Police Department. History The Port of New York and New Jersey comprised the main point of embarkation for U.S. troops and supplies sent to Europe during World War I, via the New York Port of Embarkation. The congestion at the port led experts to realize the need for a port authority to supervise the extremely complex system of bridges, highways, subways, and port facilities in the New York-New Jersey area. The solution was the 1921 creation of the Port Authority under the supervision of the governors of the two states. By issuing its own bonds, it was financially independent of either state; the bonds were paid off from tolls and fees, not from taxes. It became one of the major agencies of the metropolitan area for large-scale projects. Early bond issues were tied to specific projects, but this changed in 1935 when the Authority issued General and Refunding bonds with a claim on its general revenues.