Dead tunnel to New York features $5B wage loss

Governor Chris Christie cut New Jersey off from $5 billion in New York-based salaries and diminished its future role in the world’s second-largest regional economy when he stopped construction of a Hudson River rail tunnel he said taxpayers couldn’t afford.

The first-term Republican canceled the $9.8 billion tunnel, the country’s largest federally supported infrastructure project, on Oct. 27. New Jersey, which already faces a $10.5 billion budget deficit next year, couldn’t accept a “blank check” on cost overruns that might exceed $5 billion, said Christie.

Christie’s move means the state will have to repay the U.S. government $350 million already spent on the project, forgo $3 billion in additional federal aid and lose the 3,000 construction-worker openings the tunnel was projected to generate for the next decade. Canceling the tunnel will also cost New York and New Jersey 44,000 jobs and $4 billion in additional income that would have come through economic growth, according to a 2008 study by New Jersey Transit.

By the numbers

51%
New Jersey residents supported Christie’s decision to kill the tunnel 51 percent to 39 percent, according to a Rutgers-Eagleton poll by New Brunswick-based Eagleton Center for Public Interest Polling.

52
Among New York commuters, 52 percent said they disagreed with the decision, according to the poll.

$18B
The Regional Plan Association, a New York research group that supported the tunnel, said home values within two miles of train stations on lines running into the project would have increased by $18 billion, generating $375 million in additional property-tax collections each year.

25,000
Completion of the so-called ARC tunnel, for Access to the Region’s Core, would have added room for 25,000 additional daily commuters, according to the Federal Transit Administration.

$440K
At $10.9 billion, the midpoint estimate provided by the U.S. Department of Transportation last month, the scrapped project would cost almost $440,000 for each of the 25,000 commuters it added to the transit system, said Gus Milano, executive vice president of closely held Hartz Mountain Industries.



News
Entertainment
Sports
Lifestyle
National

Mutant worms stay sober, even on alcohol

U.S. researchers have developed "mutant worms" that do not get drunk by alcohol, a breakthrough that could lead to new treatment for people trying to quit drinking

Local

K-9 nose helps capture $150K in cocaine at…

A furry, four-legged security agent helped authorities stop an illegal cocaine shipment from sneaking past JFK customs.

National

Minnesota man asked to leave Southwest flight after…

A man and his two sons were asked to leave a Southwest Airlines flight after the man sent a tweet complaining about being treated rudely by a gate agent.

National

Man sues hospital after surprise penis amputation

An Alabama man who went in to a hospital last month for a circumcision awoke after surgery to find his penis had been amputated, his lawyer said on Thursday.

Movies

Review: Brett Ratner's big 'Hercules' movie is small…

The latest "Hercules," starring Dwayne Johnson as the half-god beefcake of Greek myth, strips its hero and tale of most of its fantastical elements.

Arts

Scientists recreate world's smallest Monet copy

Scientists have reproduced a famous Impressionist painting using nano-printing, to create what has been described as the world's smallest work of art. Reworked at the…

Television

Jerry Seinfeld is ambidextrous, and other Reddit AMA…

See some of the weirder highlights of Jerry Seinfeld's recent Reddit AMA.

Going Out

Grab a pedestrian and start dancing at What…

As a New Yorker, I’ve mastered the art of focusing my gaze straight ahead. Though it occasionally piques my interest, the absurdities that play out…

NFL

2014 NFL Fantasy Football Top 100 overall player…

2014 NFL Fantasy Football Top 100 overall player rankings

U.S. Soccer

NYCFC announce signing of Frank Lampard

The tease of a big signing Thursday by new MLS side NYCFC ended up being one rumored for weeks. England midfielder Frank Lampard agreed to…

NBA

NBA great LeBron James sends 800 cupcake apologies…

By Kim PalmerCLEVELAND (Reuters) - NBA star LeBron James, whose recent return to the Cleveland Cavaliers in his home state of Ohio sparked a frenzy…

NFL

Jerry Reese confident with Giants, skipping countdown clocks…

Last year, Giants GM Jerry Reese installed a countdown clock in the locker room to inspire Big Blue to play in their own stadium for Super Bowl XLVIII.

Tech

Forget Wi-Fi: Li-Fi could be the future

Li-Fi technology – developed by Mexican company Sisoft – is wireless internet connectivity using specialized LED light.

Tech

Weather app Climendo might be the most accurate…

The wait for a truly accurate weather forecast could finally be over thanks to a nifty new app called Climendo.

Tech

Napkin Table puts focus off the phone and…

Michael Jan, a design student at Tunghai University in Taiwan, has invented a serviette-picnic blanket hybrid called the Napkin Table.

Style

Essie's new Color Boutique

Essie launches high-tech kiosks at major airports and malls across the country.