Port Authority, NY Container Terminal Reach Lease Agreement
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The Port Authority and the New York Container Terminal have reached a long-term lease agreement to ensure the terminal stays in business.
Gov. Andrew Cuomo's office said the new agreement will keep the Howland Hook terminal operating through 2029.
The deal will retain more than 500 jobs.
It also includes a promise from the Port Authority to invest $35 million in equipment that will make the terminal more competitive.
The deal is set to be formally approved at a Port Authority meeting Thursday.