Revenue Rising For NJ Turnpike Authority
The New Jersey Turnpike Authority took in nearly $4.8 million more in revenues than expected in the first two months of 2012.
But the agency — which also operates the Garden State Parkway — also reported Tuesday that overall traffic volume and toll transactions for both highways fell by 4.2 percent during that time period. And commercial traffic, normally a big moneymaker, was down 6.3 percent.
The Asbury Park Press reports the agency expected to collect about $236.7 million in revenue. But it
beat that estimate thanks to a toll increase that took effect Jan. 1 and the mild winter weather, which prompted more personal travel than expected.
The added toll money is earmarked for paying back funds borrowed for the ongoing widening projects on the parkway and turnpike.
(Copyright 2012 by The Associated Press. All Rights Reserved.)