Gateway Rail Project: ‘Faster, Better, Cheaper’ – but Growing by $1 Billion a Year

Tom Wright, president of the Regional Plan Association, said officials need to stop dawdling.

“In these projects, time is money cubed. Delays on these kinds of things drive up the cost of them dramatically,” Wright said.

“If you think of the entire Gateway project as a potentially $20 billion project, often costs on these projects escalate at about 5 percent a year. Every single year that we delay building Gateway adds roughly a billion dollars to the cost of the project. Every month we delay adds almost $100 million.”

Read the full article at New Jersey 101.5