Thruway Authority Positions Itself for Future Growth

Governor Andrew Cuomo announced Wednesday that the New York State Thruway Authority has completed a highly successful sale of long-term bonds, raising $1.1 billion to help create a solid foundation for the Authority and ensure it can move forward with capital projects across the state, including the Tappan Zee Bridge.

In advance of this sale, the Thruway Authority took significant actions to improve its financial health, including a right-sizing of its capital program, streamlining operations, and initiating an adjustment in commercial toll rates.

The bond sale, coupled with these necessary actions, has provided a firm foundation for the Authority to finance its future operational and capital needs, and to finally begin the New Tappan Zee Bridge reconstruction project.