Governor Andrew M. Cuomo and Mayor Michael R. Bloomberg today announced the federal government has approved nearly $25 million in Congestion Mitigation and Air Quality Improvement Program (CMAQ) for the Hunts Point Terminal Produce Market. With this additional federal funding, the total City, State and federal funding secured now stands at approximately $172.5 million, which will complete the public sector contribution to the Markets redevelopment cost. The additional funds will also help ensure that the Market remains in New York City.
The Hunts Point Terminal Produce Market, which employs over 3,500 workers in the South Bronx, and supports another 3,000 in-direct jobs, has been an important piece of the citys infrastructure for decades, supplying millions of New Yorkers every day with healthy, fresh produce.
"This funding will help keep thousands of jobs in New York and make sure that one of the largest food distribution centers remains in the Bronx, Governor Cuomo said. This investment will also increase access to key downstate markets for farmers across New York. This is what can be accomplished when city, state and federal governments work together and I thank Mayor Bloomberg and all of our partners for getting this done.
Today, we are fulfilling an important part of our commitment to keep the Hunts Point Terminal Produce Market in the Bronx where it belongs, said Mayor Bloomberg. The Produce Market has served the residents of New York City and the region for more than four decades. This federal funding now represents the final piece of the public sectors contribution to this important redevelopment project, and we look forward to continuing our work with the Market Cooperative to reach a final agreement that will lead to a larger, more sustainable Market serving the Bronx - as well as the entire City and State - for generations to come. Thanks to Governor Cuomo and all of our dedicated City, State and federal partners in this effort.
For more than 40 years, the Hunts Point Terminal Produce Market has served as New York Citys leading produce transfer and distribution facility and is now the second largest wholesale market in the world. Hunts Point Terminal Produce Market supplies 60 percent of fresh produce sales within New York City with an estimated $2.3 billion in revenue per year. The Market is the largest in-state market for New York farmers and during the growing season 15 percent of the produce sold at Hunts Point Terminal Produce Market is grown in New York State.
New York City and State, along with federal partners, have joined together with the owners of the Hunts Point Terminal Produce Market in a public-private partnership to jointly fund the $332.5 million redevelopment effort to modernize the transportation, warehousing and distribution facilities within the Market.
Earlier this year, Governor Cuomo and Mayor Bloomberg signaled their commitment to keeping the Hunts Point Terminal in the South Bronx by including $50 million in state funding and $87.5 million in both capital funding and tax incentives from New York City. In June, a $10 million federal TIGER grant was awarded by the U.S. Department of Transportation to the Hunts Point Terminal Produce Market, which will be used for rail improvements at the Hunts Point facility, allowing produce from hundreds of farms and businesses across New York and the country to move more efficiently to the Market in an environmentally sustainable way.
Senator Charles Schumer said, Hunts Point is the epicenter of New Yorks dynamic food industry and investing in the infrastructure to modernize and grow this unique operation is essential for the regions economy. With this funding, weve finally gotten New York City to the finish line in order to meet its public funding goals for the Hunts Point project and all we needed was final sign off. The New York City Metropolitan Transit Council has stepped up to the plate and approved this funding that pushes us past the $160 million goal.
Senator Kirsten Gillibrand said, These federal funds are an important step forward towards revitalizing Hunts Point and making long overdue infrastructure upgrades at the countrys largest food distribution center. This investment to modernize an important food distribution hub in the Bronx will provide long-term economic benefits to the entire city."
U.S. Representative Joseph Crowley said, This federal funding is essential to moving this project forward, and I am thrilled we are now one step closer to the dream of a revitalized Hunts Point. The Hunts Point Market has played a pivotal role in New Yorks economy for more than four decades, providing local jobs and supporting farmers throughout the state. The plan to modernize this essential food distribution center will bring even more economic benefits to the Bronx, New York City, and the state.
U.S. Representative Jose E. Serrano said, "Access to these federal funds is an important part of the larger effort to redevelop the Hunts Point Food Distribution Center. This funding will help both the residents and businesses of Hunts Point and the South Bronx."
City Council Speaker Christine C. Quinn said, Im happy to see all levels of government working together to secure the future of the Hunts Point Terminal Produce Market in the Bronx. These additional funds will contribute to the sustainability of the project, benefiting both the local community and entire city, and will help ensure that our residents enjoy access to fresh foods for generations to come.
Bronx Borough President Ruben Diaz Jr. said, The Hunts Point Terminal Produce Market stands as one of our boroughs strongest economic engines, and we continue to show our commitment to keeping this important institution in the Bronx, right where it belongs. The public-private partnership between this City and the markets tenants will ensure that the Hunts Point Terminal Produce Market continues to feed the region, while providing thousands of direct and indirect jobs in the Bronx and elsewhere. I thank both the Bloomberg and the Cuomo administrations for their continued commitment to the Bronx.