2nd Ave Subway, East Side Access to Get Stimulus Funding
Washington, D.C. – Today, Congresswoman Carolyn Maloney (D-NY) applauded the release by the federal Department of Transportation (DOT) of millions in stimulus funding for the Second Avenue Subway and East Side Access megaprojects, which are located almost entirely within Maloney’s congressional district. Transportation Secretary Ray LaHood today announced the early delivery of $78.9 million for the Second Avenue Subway and $195.4 million for East Side Access, along with funding for seven other projects around the country.
Today’s funds will not increase the total federal commitments for the Second Avenue Subway or East Side Access, but will expedite the delivery of funds obligated for the projects in 2010 under full-funding grant agreements between the Metropolitan Transportation Authority (MTA) and the Federal Transit Administration. According to the DOT, stimulus funding will allow the MTA “to save on financing costs while putting additional dollars into the local economy; will supplement local resources, which have declined during the economic downturn; and allow for a quicker investment in the project.”
“These stimulus grants should help put ‘shovels in the ground’ more quickly for the Second Avenue Subway and East Side Access,” said Maloney. “I thank President Obama and Secretary LaHood for their continued efforts to bring stimulus investments to New York. Stimulus funding is creating good jobs now and helping build transit improvements that New Yorkers can use for generations to come –and that’s a win-win for our community.”
In February, Maloney issued a report outlining the jobs and other economic benefits created by the construction of the Second Avenue Subway and East Side Access. Both “megaprojects” are located almost entirely within Maloney’s congressional district. Please click here for a full copy of Maloney’s report; highlights can be found below.
Highlights of Maloney’s Report:
● Every dollar spent on public infrastructure increases GDP by an estimated $1.59.
● Second Avenue Subway has already:
● Created 16,000 jobs
● Generated $842 million in wages
● Produced $2.87 billion in economic activity
● East Side Access has already:
● Created 22,000 jobs
● Generated $1.176 billion in wages
● Produced $4 billion in economic activity
● During construction:
● Second Avenue Subway will generate $4.347 billion in economic activity
● East Side Access will generate $12.275 billion in economic activity
● Following completion, these projects will save commuting time in the region with the longest commutes in the nation.
● Transit projects generate approximately 570 direct and indirect jobs for every $10 million in capital expenditures
● Transit projects generate roughly $30 million in sales for every $10 million in capital expenditures.
In November 2007, the Federal Transit Administration (FTA) and the MTA signed a full-funding grant agreement for the Second Avenue Subway, which will provide $1.3 billion in federal funds to build the subway’s first leg. In February 2009, Congress passed an omnibus appropriations bill that included a $277.7 million funding installment for the subway.
In December 2006, the FTA and the MTA signed a full-funding grant agreement for East Side Access, which will provide $2.6 billion in federal funds for the project. February’s appropriations bill also included $209.6 million for East Side Access.
Full-funding grant agreements are commitments by the federal government to provide a total amount of funding, delivered in installments, over the life of a project.
In the mid-1990s, Rep. Maloney began a campaign to resuscitate the Second Avenue Subway after the project had lain dormant for decades. The subway project, as planned, would run primarily through the 14th Congressional District, which Maloney represents. The full-length Second Avenue Subway will be an 8 ½ mile two-track line beginning at 125th street and ending in Hanover Square in lower Manhattan.
The subway’s first segment will include stops at 96th, 86th and 72nd Streets, and tunnels from 99th to 62nd Streets. At 63rd Street, the new subway line will link onto the existing Q-line tracks, providing a one-seat ride from the Upper East Side to Times Square, Wall Street, and Brooklyn. Construction of the full-length subway has been divided into four phases. Once completed, the first subway phase will carry more than 200,000 riders each day and relieve massive congestion on the most overcrowded subway routes in the nation: the 4, 5, and 6 Lexington Avenue IRT trains on Manhattan's East Side.
East Side Access will bring the Long Island Rail Road to Grand Central Terminal, carrying approximately 163,000 average weekday boardings.