In our spotlight on Business Report.

The state's heavily trafficked northeast corridor is getting a funding boost from the Biden administration.

Roughly four and a half billion dollars for mass transit projects is coming to New Jersey and the region.

Senator Cory Booker and New Jersey Transit CEO Kevin Corbett joined other federal and local leaders in Newark today to tout the federal money, which will go toward five key projects here, the bulk of it nearly $4 billion supporting the Hudson River tunnel.

That's a critical part of the Gateway program that's taken decades to get off the ground.

About $300 million will go toward rehabbing the 90 year old dock bridge.

It crosses the Passaic River between Newark and Harrison and also part of Gateway.

The rest is going to New Jersey Transit for passenger improvements at Newark, Penn Station.

It's good news for them, along with the Delco Lead project in New Brunswick.

That's a railcar storage and inspections facility.

There's also money to replace Amtrak's Sawtooth Bridges in Kearny and for studying ways to reduce rail travel time between New York City and Washington, D.C.. Cory Booker today said the grants are part of a larger pot of $16 billion awarded by the Federal Railroad Administration.

The economy of this region depends on the Northeast corridor.

It is like the jugular vein in the body politic of the Northeast.

This project is of such scale and significance.

There is not only a day to rejoice as taxpayers.

We're having such a massive infusion of federal funds, but it's also going to affect the lives of thousands of people in this region because it's creating thousands of jobs.