The massive Hudson Tunnel Project is now expected to generate $19.6 billion in economic activity and create approximately 95,000 jobs during its construction, an increase of 20,000 jobs over previous estimates. That’s according to a report released Monday by the Regional Plan Association. The report is based on research done on behalf of the Gateway Development Commission.

“The Hudson Tunnel Project is the most pressing infrastructure project of our time, and it will bring enormous benefits to our region and nation,” said Tom Wright, president and CEO of the Regional Plan Association. “This new report emphasizes the broad economic benefits of the project, which are already being generated by $1 billion in early work contracts. …The Hudson Tunnel Project will set the stage for long-term economic growth by connecting more residents to jobs in the region and expanding the size of the workforce that employers can draw from.”

Construction is underway on both sides of the Hudson River, at the Tonnelle Avenue Bridge and Utility Relocation Project in New Jersey and the Hudson Yards Concrete Casing Section 3 Project in New York. When construction of the Hudson River Ground Stabilization Project begins in July, more than $1 billion worth of construction activity will be in the ground.

Read the full RPA report here.