Mayor Rudolph W. Giuliani today announced that the City of New York, through the New York City Economic Development Corporation (EDC), has purchased two new state-of-the-art container cranes for the Red Hook Container Terminal in Brooklyn.

The purchase of these cranes is the first of several initiatives scheduled for the Red Hook Terminal as part of Mayor Giuliani's Strategic Plan for the Redevelopment of the Port of New York. In keeping with the Giuliani Administration's commitment to enhancing New York City's maritime transportation infrastructure, the 20-year plan seeks to develop a financially feasible, multi-stage strategy for the redevelopment of the port facilities and transportation access in Staten Island and Brooklyn. These initiatives will result in the development of 1,200 new waterfront acres, create 30,000 new jobs, and generate $300 million in annual tax revenues.

"The efficient movement of ocean-going freight is critical to the success of New York City's business community and to the growth of the City's economy," said Mayor Giuliani. "Cargo volumes have tripled at the Red Hook Container Terminal over the past six years, from an all-time low of 18,000 containers in 1993 to an all-time high of 65,000 containers in 1999," the Mayor continued. "The addition of these new cranes will help maintain our port's position as the preeminent port on the Atlantic Coast, enable this facility to handle greater volumes of international cargo, create jobs, and lower costs to businesses and consumers."

The cranes, which will be manufactured by Liebherr Container Cranes LTD of Ireland, will cost $12 million (including related equipment) and be operational within 16 months. In conjunction with two new barges to be provided by the Port Authority, the addition of the cranes will double the capacity of the Red Hook Terminal, create approximately 275 jobs, and generate approximately $1 million in annual tax revenues for the City.

"The Red Hook Container Terminal is a crucial component to our economy and our future plans for the Port of New York," said Deputy Mayor for Economic Development and Finance Robert M. Harding. "The Giuliani Administration has pledged up to $25 million in capital improvements at the Red Hook Container Terminal to fully capture its potential for growth over the next 10 years. Purchasing these new cranes will enhance Red Hook's competitive edge, provide quicker and more reliable service to shippers, and provide an alternative to trucking cargo between Brooklyn and New Jersey."

The Port of New York and New Jersey is the busiest maritime cargo facility on the Atlantic Coast, and serves the largest consumer market in the United States. The Red Hook Container Terminal is the City's second largest terminal, employing approximately 500 on-site people, up from approximately 200 in 1993. The estimated impact of Red Hook's total volume is approximately 1,100 on and off-site jobs, $36 million in wages and $4.2 million in annual City tax revenues.

"Under the leadership of Mayor Giuliani, the Red Hook Container Terminal has twice expanded its roster of longshoremen, the first time this has happened in nearly 30 years," said EDC President Michael G. Carey. "The purchase of these cranes is further proof that the Brooklyn waterfront is alive and well, and that the best is yet to come."

In addition to the Strategic Plan for the Port, in mid-2000 EDC's Transportation and Waterfront Development Division will present the results of the Cross Harbor Freight Movement Major Investment Study, a two-year, federally funded study that addresses the deficiencies in cross-harbor freight movement in the New York Region and examines alternatives for improvement.

EDC is the City's primary vehicle for economic development services. Using its real estate and financing resources, EDC helps develop businesses and create jobs throughout the five boroughs.