Hochul said an agreement was made between the Port Authority of New York and New Jersey and The New Terminal One group, who will be the financial backers of the project. A new 2.4-million-square-foot facility will be built in phases, with the project set to create more than 10,000 jobs. It will feature 23 international gates, making it the largest international terminal at JFK. This is the fourth major terminal project that’s part of a complete transformation of JFK into a “world-class” airport.

Construction of the new terminal is set to begin in mid-2022 and is expected to be fully completed by 2030. The design-build team is led by AECOM Tishman and Gensler.

"As we recover from this pandemic, I want to ensure that everyone traveling to New York has a welcoming and streamlined experience, and that New Yorkers have the modernized transportation hubs they deserve," Governor Hochul said. "The time to get large infrastructure projects done is now, and I'm committed to getting JFK's brand new Terminal One underway and completed as soon as possible."