Congestion at the area's three major airports is costing the local economy about $2.6 billion a year, according to a new report released by the Partnership for New York City today.
The group says if nothing is done to correct the problem, the price tag will amount to about $79 billion by 2025.
To view the complete report, go to PFNYC.org.
LaGuardia, Kennedy and Newark currently handle about one-third of the nation's flights and are responsible for nearly three-quarters of the nation's delays. The impact locally is felt with increased emissions, wasted fuel, and the possibility of lost business for companies who ship freight.
The report concludes that as the federal government is poised to invest in the country's infrastructure, area airports would benefit from expansion projects – as well as upgrades to the air traffic control system.
The Partnership for New York City is made up of a group of business leaders.
They say they tapped the Port Authority of New York and New Jersey for input on the research.
Meanwhile, this morning, a coalition of business, travel, and airline industry representatives met with the Port Authority to urge lawmakers in Washingto, D.C. to fund a project that would install NextGen technology in our area.
The system uses satellite communication technology to inform air traffic controllers and pilots of the exact location of planes.
The project would need a multi-year and multi-billion dollar commitment from the government.