JFK Air Cargo Study for NYCEDC
RAISING THE THRESHOLD
Cheng Solutions examined market strengths and weaknesses in the air cargo business for JFK. We started by interviewing commercial real estate brokers and owners for market research on JFK off-airport industrial property conditions, opportunities and needs. Using Co-Star, we then researched comparable rents and vacancies as market comps for on-site Port Authority of New York and New Jersey (PANYNJ) air cargo property. We also quantified relative trucking cost estimates for JFK and its major competitor airports in moving freight East of the Mississippi River. These estimates were used to determine advantages and disadvantages held by JFK over its competitors and to develop recommendations to improve JFK’s standing. Leading manufacturer shipper interviews allowed us to identify company-level prospects for JFK business development, and identify firms that have taken their business to competing airports. Other insights were provided by interviews with manufacturers of JFK’s eight targeted export commodities, identifying key points in the manufacturer’s logistics decisions.
Influencing the logistics decisions of shippers means creating the best conditions for growth at hubs. As the largest air cargo hub in the New York metropolitan area, doing so at JFK is vital to the region's businesses.
New York – New Jersey region
2015 – 2016
New York City Economic Development Corporation