NYS announces groundbreaking of $9.5B JFK Terminal One

A groundbreaking of the $9.5 billion Terminal One was held today at John F. Kennedy International Airport in Queens.

Privately financed by a consortium of sponsors, the new 2.4-million-square-foot international terminal will anchor the south side of airport.

Officials say it will create 10,000 jobs, including 6,000 jobs in construction. And the state announce a goal to award 30 percent of the contracts to minority and women-owned businesses.

While private partners will provide financing to cover the full cost of the terminal, the Port Authority will build the supporting road and utility infrastructure, officials said.

Phase One of the project is expected to be completed by 2026, Gov. Kathy Hochul said.

“This project will be worthy of the name, not just New York, but also the name of President John F. Kennedy,” Hochul said at the groundbreaking.

“After a pandemic filled with too much despair, here in New York, we are acting,” she added. “And we’re accepting the responsibility for our future by literally building a brighter one with projects like this for our state.”

Initially planned for 2020, the groundbreaking was postponed because of  impact of the pandemic on air travel. A revised agreement was approved by the Port Authority Board of Commissioners and announced by Hochul in December 2021, enabling the project to move forward.

In June, the Port Authority’s board also voted to approve a new lead investor in the project. Ferrovial, a global airport operator with experience building  terminals, acquired 96 percent of The Carlyle Global Infrastructure Fund’s 51-percent stake in the New Terminal One.

The consortium, which also includes the financial partners ULLICO and JLC Infrastructure, will design, build and operate the state-of-the-art terminal.