JFK International Airport’s $19 billion renovation project is making history with minority and women-owned businesses (MWBE) securing a record-breaking $23 billion in contracts, announced by the Port Authority of New York and New Jersey (PANYNJ) on April 29.
The amount of contracts awarded to MWBE businesses at JFK International Airport surpasses the previous record set by the LaGuardia Airport project, which awarded $22 billion to MWBE enterprises. This underscores the importance of collaborations between airports and local contractors. So far, JFK International Airport has provided $9.5 billion in contracts to businesses in Queens.
As the $19 billion investment in the JFK International Airport renovation project progresses, more contracts will be signed with MWBE businesses. The Port Authority has stated that the participation rate of minority and women-owned businesses in its capital projects has reached 30%.
To date, 680 minority and women-owned businesses, along with 200 Queens-based enterprises, have been awarded contracts at JFK International Airport.
The JFK International Airport unveiled the Vision Plan in January 2017, with a cost of $9.5 billion, designing the state-of-the-art New Terminal One, breaking ground in September 2022. This terminal will become the main artery on the south side of the airport. The $4.2 billion new Terminal 6, which will connect to Terminal 5 and serve as the main terminal on the north side of the airport, broke ground in February 2023.
The $1.5 billion expansion project of Terminal 4, led by Delta Air Lines and JFK International Air Terminal (JFKIAT), is nearing completion. Additionally, the $400 million expansion project of Terminal 8, operated by American Airlines, was completed in November 2022.