Megaproject

Metropolitan Airport News

Esd And Panynj Announce Launch Of $50 Million Acdbe FundEmpire State Development (ESD) and the Port Authority of New York and New Jersey today announced the launch of New York state’s Airport Concessions Disadvantaged Business Enterprise (ACDBE) Fund. The $50 million state fund provides support to certified-ACDBE businesses seeking concession opportunities at the Port Authority’s New York City airports. Two initial loans have already been approved for local small businesses by the Greater Jamaica Development Corporation (GJDC) and the Upper Manhattan Empowerment Zone, two of the participating lenders in the state program. They approved a $1 million loan for Queens-based Corral Ventures LLC to open a Golden Krust Caribbean Restaurant at John F. Kennedy International Airport’s Terminal 8. They also approved a $1.05 million loan to Queens-based Pies for the Sky Corp. to open a Singas Famous Pizza, also at Terminal 8. “Under Governor Hochul’s leadership, New York state is committed to supporting inclusive economic growth that creates opportunity for all New York small businesses,” said Hope Knight, president, CEO and commissioner of Empire State Development. “This innovative fund presents a unique opportunity to foster economic inclusion, empower disadvantaged small business to grow, and introduce visitors to some of New York’s tastiest food options.” “Supporting local small businesses by providing opportunities at our airports is part of the Port Authority’s goal of creating a world-class JFK Airport that opens doors for enterprising New Yorkers and also reflects the vibrant spirit of this city,” said Port Authority Executive Director Rick Cotton. “Our new business fund with Empire State Development enables opportunities for local small businesses to bring their distinct brands to the millions of national and international air passengers who use our airports.” “We understand that airports can be challenging places for any business no matter the size to operate in, which is why this new fund will be incredibly helpful for disadvantaged small businesses who want to open at our airports in New York,” said Port Authority Chairman Kevin O’Toole. “We seek to support local businesses who share our vision of a global gateway with an authentic New York sense of place for the millions of travelers who will experience JFK as the front door to our region.” The U.S. Department of Transportation’s ACDBE program mandates that a portion of airport concession contracts be awarded to disadvantaged businesses. These businesses are often involved in retail, food and beverage, car rentals, and other concessions at airports. ACDBE-certified firms gain access to high-growth concession markets that can build their capacity, expand their business networks, and provide consistent and scalable revenue streams. As the administrator of the federal ACDBE program at the Port Authority’s two major airports in New York City, the Port Authority and its airport terminal partners conduct robust outreach to local businesses and communities to expand the pool of candidates and increase competition for concessions opportunities. As part of those local community outreach efforts, the Port Authority works with the JFK Redevelopment Community Advisory Council, airport terminal operators, and their concessions managers to expand opportunities available to local, small and diverse businesses interested in operating airport concessions that will be appealing to travelers. In 2023, the Port Authority also launched the Institute of Concessions to prepare local businesses for the unique requirements of competing for and operating a business inside an airline terminal. Pies for the Sky Corp., the small business that was approved for a loan to operate a Singas Famous Pizza in Terminal 8, is one of the 44 Institute of Concessions graduates so far. Other graduates are among the many local small businesses that have been selected for opportunities or are part of joint-venture partnerships for concessions opportunities at JFK’s terminals 4, 5, 6 and 8 within the Port Authority’s $19 billion redevelopment of the city’s busiest international airport. To further these goals, the state initiative, supported by funding from ESD’s Metropolitan Economic Revitalization Fund and the State Small Business Credit Initiative, provides credit enhancements and direct lending capital to participating banks and community development financial institutions to support certified ACDBE firms participating in concession opportunities at New York City airports. “For far too long, small minority businesses have experienced significant barriers to accessing affordable capital, limiting their chances to compete with larger companies and sustain their operations within airport spaces,” said sad U.S. Rep. Gregory Meeks of New York. “I am proud to stand alongside Empire State Development as they unveil this incredible $50 million funding program that evens the playing field and creates economic opportunities for small businesses in the airport concessions industry especially for those Queens-based businesses in my district. This latest initiative is another step toward building a more diverse world-class experience when individuals visit JFK Airport.” “The launch of the Airport Concessions Disadvantaged Business Enterprise Fund marks a significant step toward ensuring equitable access to concession opportunities at our airports and I commend Governor Hochul, ESD and the Port Authority for their efforts to right-size access and opportunities for small businesses,” said New York state Sen. Leroy Comrie. “While I applaud the commitment to helping to level the playing field, I hope that considerations are being made to help keep labor costs manageable and price points affordable for travelers. I also encourage ESD and the Port Authority to see that safeguards are instituted to ensure that the beneficiaries of these loans have all the tools and resources to be successful so that they can repay the loans and still be able to thrive in the competitive marketplace at JFK Airport.” “Our borough’s airports are gateways to the region and linchpins of our economy, so it’s important to make sure local businesses owned by members of disadvantaged communities have the opportunity to benefit from the economic activity these airports create,” said Queens Borough President Donovan Richards Jr. “The new Airport Concessions Disadvantaged Business Enterprise Fund will help achieve this goal by providing vital support to disadvantaged businesses seeking concession opportunities at the airports. I thank Governor Hochul, Empire State Development and the Port Authority for their outstanding support of disadvantaged businesses, and I look forward to patronizing the many Queens-based businesses that will take advantage of the fund’s support to establish thriving concessions at our airports.” “Equitable access to economic opportunities is key to a more inclusive and prosperous New York,” said New York City Council Member Dr. Nantasha Williams. “The Airport Concessions Disadvantaged Business Enterprise Fund is a game-changer for small businesses, especially minority- and women-owned, seeking a foothold at our airports. This initiative drives economic growth and highlights the entrepreneurial spirit that defines New York. I commend Governor Hochul, Empire State Development, and the Port Authority for their commitment to expanding opportunities for local entrepreneurs.” “Supporting and bolstering disadvantaged businesses is at the core of Greater Jamaica’s mission and we are proud to be a part of the ACDBE initiative,” saidJustin Rodgers, president & CEO of the Greater Jamaica Development Corporation and co-chair of the JFK Business Development Committee Advisory Council. “Gov. Hochul and Empire State Development have proven their commitment to Jamaica and southeast Queens time and again with tangible support focused on helping small businesses. As a CDFI, the state’s backing helps Greater Jamaica to do more.” “Access to capital has by far one of the most glaring challenges that has prevented more locally based and minority-owned businesses that have checked all the right boxes to achieve their ACDBE certification. This includes developing their business growing plans, attending the JFK Institute of Concessions to put their business in position to do business with JFK and LaGuardia airports — only to be told that they don’t qualify and cannot access the necessary financing,” said Kevin W. Alexander, president & CEO of the Rockaway Development & Revitalization Corporation (RDRC). “Today’s announcement of a $50 million NYS ACDBE Fund established by the Empire State Development Corporation led by President Hope Knight, in conjunction with the Greater Jamaica Development Corporation and the Upper Manhattan Empowerment Zone, is a testimony to both their leadership and commitment to giving deserving businesses an opportunity to achieve their dreams.” Successful applicants can receive loans from $50,000 and up to $5,000,000. Typical uses of funds include working capital, acquisition of machinery and equipment and leasehold improvements at JFK or LaGuardia Airport. Funding remains available, and interested businesses should apply through participating lenders. Interested businesses should contact one of the following participating lenders for application details: Competitive interest rates, terms and fees are determined by the individual program lenders. Lenders are responsible for applications and credit decisions. For additional information, visit ESD’s ACDBE website, where program guidelines can be found. To qualify, businesses must: In January 2017, the JFK Vision Plan was announced to transform John F. Kennedy International Airport into the world-class airport that New Yorkers deserve. The vision plan provides a strategic framework for the Port Authority and its partners to completely redevelop, modify and expand existing facilities and infrastructure. The $9.5 billion development of a state-of-the-art New Terminal One that will anchor the airport’s south side broke ground in September 2022. A new $4.2 billion Terminal 6, which will connect seamlessly with Terminal 5 to create an anchor terminal on the airport’s north side, broke ground in February 2023. The $1.5 billion expansion of Terminal 4, led by Delta Air Lines and JFK International Air Terminal (JFKIAT), is substantially complete. Additionally, the $400 million expansion of Terminal 8, led by American Airlines, which operates the terminal, was completed in November 2022. All of the privately financed terminal projects combined with the Port Authority’s roadway, parking and infrastructure projects represent a $19 billion transformation of JFK and an extraordinary series of public-private partnerships. The Port Authority’s capital investment of $3.9 billion is leveraging private investment at a rate of nearly four to one when taking into account the full private investment of more than $15 billion that has been committed to the four projects comprising the full redevelopment of JFK. Empire State Development is New York’s chief economic development agency, and promotes business growth, job creation, and greater economic opportunity throughout the state. With offices in each of the state’s 10 regions, ESD oversees the Regional Economic Development Councils, supports broadband equity through the ConnectALL office, and is growing the workforce of tomorrow through the Office of Strategic Workforce Development. The agency engages with emerging and next generation industries like clean energy and semiconductor manufacturing looking to grow in New York State, operates a network of assistance centers to help small businesses grow and succeed, and promotes the state’s world class tourism destinations through I LOVE NY.

airport

Mar 08, 2025

Metropolitan Airport News

Panynj And Jfkiat Announce New Lineup Of Local Brands At Jfk Airports Terminal 4The Port Authority of New York and New Jersey and JFKIAT, the operator of John F. Kennedy International Airport’s Terminal 4 (T4), today announced a new line up of food and beverage concessions that will include an attractive mix of local and national brands that will create a unique New York sense of place at the recently expanded terminal. Notable local brands that will enliven the passenger experience include Bessou, Dos Toros Taqueria, Boqueria, Eataly, the James Beard Foundation’s Good To Go by JBF™, and Villa Russo Café, a Queens-based family operated business. The selection of these iconic and premium brands was curated following a competitive process that awarded HMSHost, a global leader in travel dining, the contract to oversee their operations at Terminal 4. Additionally, HMSHost formed joint-venture partnerships with seven local and diverse airport concessions disadvantaged business enterprise (ACDBE)-certified businesses selected following an extensive community outreach led by HMSHost. As the operator of T4, JFKIAT’s objectives in these innovative partnerships was to foster a mentorship program in which local and diverse business owners would have the opportunity to learn how to operate an airport concession from a global travel retail operator, while offering passengers an attractive selection of local culinary experiences. “From the outset, our goal in building a new JFK International Airport has been to create a world-class passenger experience that will include a mix of exceptional local food and beverage brands alongside notable national brands,” said Port Authority Executive Director Rick Cotton. “Terminal 4’s lineup of appealing, iconic local brands will help to create a travel experience that is unique to New York.” “Locally owned, iconic food and beverage concessions at JFK’s Terminal 4 are an important part of our effort to create the world class experience that travelers expect at the nation’s premier international airport,” said Port Authority Chairman Kevin O’Toole. “Passengers traveling through JFK International will get to experience the tastes of our region from the moment they arrive until the moment they depart.” “The transformation of T4 and JFK Airport has given us a new opportunity to work with local businesses and provide gateways for meaningful local investment,” said JFKIAT Chief Executive Officer Roel Huinink. “I am looking forward to the arrival of our new local partners at T4, and I am pleased that we will be able to offer our customers even more authentic New York flavors and experiences.” “In a city so renowned for its culinary scene as New York, JFK has evolved into a dining destination in itself,” said Steve Johnson, president and CEO of Avolta, North America. “We embraced the opportunity to partner with JFKIAT, the Port Authority of New York and New Jersey, and our joint-venture partners to be a part of the evolution of JFK and make the journey as exciting as the destination for travelers passing through Terminal 4. These new food and beverage offerings will more than double our presence at JFK, which we are tremendously proud of.” New York Dining and Beverage Brands Coming to Terminal 4: Local, diverse, and disadvantaged businesses taking part in the concessions program hail from the New York City boroughs of Queens, Brooklyn, and Manhattan. Collectively, these businesses will have a 30 percent equity stake in a joint-venture with HMSHost. Together, these collaborations, initiated through community outreach programs, will fulfill the ACDBE participation goal. Local and ACDBE Businesses Selected as Joint-Venture Partners to HMSHost: Joint-venture partnerships with HMSHost will provide a unique opportunity for the redevelopment of T4 to benefit local and diverse business owners who will be directly involved in the management of the restaurants, learning about the complexities of airport operations and bolstering their chances of successfully competing for and operating their own airport concessions in the future. As part of this initiative, JFKIAT will ensure local business participation and input into the assortment of offerings, supply, and fit out of these new retail and food and beverage locations. Creating opportunities for local and diverse businesses to create airport concessions that will be appealing to travelers has been at the forefront of the Port Authority’s $19 billion redevelopment of JFK, which includes the $1.5 billion modernization and expansion of T4 by JFKIAT and Delta Air Lines. Working with the JFK Redevelopment Community Advisory Council, led by U.S. Rep. Gregory Meeks and Queens Borough President Donovan Richards Jr., the Port Authority launched the Institute of Concessions in 2023 to prepare local businesses for the unique requirements of competing for and operating a business inside and airline terminal. To date, 45 businesses have completed the program, including the owners of Villa Russo Café, one of the new dining concessions that will be an equity partner with HMSHost at T4. “The landmark redevelopment project at JFK International Airport serves as a launchpad for opportunities for many local and diverse dining businesses in our community,” said U.S. Rep. Gregory W. Meeks. “The modernization of Terminal 4 also provides travelers with a world-class experience, all while enjoying a taste of Queens when headed to their destinations.” “I’m thrilled that so many businesses based in Queens and throughout New York City will be offering delicious food and beverages at JFK’s Terminal 4,” said Queens Borough President Donovan Richards Jr. “These locally based concessionaires will have menus with a true New York flavor that will be hugely satisfying to international travelers. These concession opportunities will also give a big boost the local economy and create incredible job opportunities for Queens residents. Thanks to partnerships with local businesses like these, the new JFK International Airport will be a first-class transportation facility that will provide innumerable well-deserved benefits to its neighboring community.” “JFK Airport is a gateway to the world, and it should reflect the culture, diversity, and entrepreneurial spirit of New York. This expansion of Terminal 4’s concessions program is an important step in ensuring that our small businesses and local entrepreneurs have a role in the future of this airport,” said New York state Sen. Leroy Comrie. “By bringing in businesses from our communities, especially those owned by people of color, women, and local families. We are building an airport that truly represents the heart of New York City. I look forward to seeing these businesses thrive and serve millions of travelers with the unique flavors and experiences that make our city great.” “The transformation of JFK Airport is not just about modernization — it’s about ensuring that our local communities benefit from these investments,” said New York state Assembly Member Alicia Hyndman. “I’m thrilled to see Terminal 4 embracing local, minority-owned businesses and iconic New York dining options that reflect the diversity and vibrancy of our city. The inclusion of Queens-based businesses, like Villa Russo Café, in this expansion highlights the real economic opportunities being created for our small business owners. I look forward to seeing these new partnerships thrive and further strengthen JFK’s connection to the community it serves.” “The T4 concession program is transforming into an emerging leader for opportunity and top fine dining at the terminal,” said New York state Assembly Member Clyde Vanel. “We thank Port Authority and JFKIAT for their commitment to prioritizing local businesses to take part in this opportunity.” “The expansion of locally based food and beverage concessions at JFK’s Terminal 4 is a win for both travelers and our community,” said New York City Council Member Dr. Nantasha Williams. ”By bringing in iconic brands like Villa Russo Café — a beloved Queens-based family business — and fostering partnerships with diverse ACDBE-certified businesses, the Port Authority and JFKIAT are creating meaningful opportunities for small business owners while celebrating the rich culinary culture of our city. This initiative not only enhances the airport experience but also strengthens our local economy by ensuring that New York’s diversity is reflected in one of the world’s busiest travel hubs.” “The Queens Chamber of Commerce is thrilled to see Queens-based businesses like Villa Russo Café, Kismet Cocktails, and Fresco’s Cantina playing a key role in the ongoing transformation of JFK International Airport,” said Tom Grech, president and CEO of the Queens Chamber of Commerce. “Their inclusion in the concessions lineup highlights the incredible talent, diversity, and entrepreneurial spirit that define our borough. By creating opportunities for local minority-owned businesses to thrive on a global stage, this project strengthens our economy while giving travelers a true taste of Queens.” “Congratulations to the businesses chosen to provide a taste of New York to the world as it passes through Terminal 4,” said Justin Rodgers, president & CEO of the Greater Jamaica Development Corporation and co-chair of the JFK Business Development Committee Advisory Council. “This is an exciting moment for these small businesses. We are confident they will be mentored well in this completely new business environment and will thrive at the new Terminal 4.” “As the historic transformation of JFK International Airport progresses, we are pleased by the announcement by the PANYNJ and JFKIAT that several local food and beverage businesses will participate as both concessionaires and joint venture partners at Terminal 4,” said Kevin Alexander, president & CEO of the Rockaway Development & Revitalization Corporation and career & workforce committee co-chair of the JFK Redevelopment Community Advisory Council. “The only way these opportunities happen are by a commitment from all the partners – the Port Authority and its Institute of Concessions, JFKIAT, HMSHost, JFK Redevelopment Community Advisory Council co-chairs U.S. Rep. Gregory Meeks and Donovan Richards Jr., and the JFK Redevelopment Community Advisory Council for creating a pathway to making this a reality.” The JFK concessions program has been a fantastic way to introduce local businesses to audiences they never dreamed possible,” said Michael Gillen, technology and communications director of Made in Queens at the Queens Economic Development Corporation. “We’re especially proud of all of our Made in Queens businesses who have worked with JFK, including QNSY. We look forward to continuing to have a successful relationship, thereby bringing the world the best Queens has to offer.” JFKIAT is the operator of the largest terminal at JFK and has leveraged its innovative expertise in air terminal operations at T4 for more than 20 years. As a Queens-based business itself, JFKIAT has a long history of supporting the community around the airport, from facilitating local business owners’ participation in a street market program at T4, to providing resources to local non-profits and educational institutions through its 4GOOD program. Approximately 45 percent of JFKIAT’s project spend for its share of the transformation of T4 has gone to MWBE companies, totaling $34 million thus far. This curated collection of local experiences will also further strengthen T4’s well-established New York-centric identity. The terminal is also home to the T4 Arts & Culture program, established to support the local community and providing enriching experiences for travelers that epitomize New York City.

airport

Feb 21, 2025

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