KEARNY, N.J. (CBSNewYork) — The Federal Transit Administration approved more than $700 million in funding to accelerate a project to replace the Portal North Rail Bridge in Kearny, New Jersey.

The 110-year-old bridge is a critical link on the northeast corridor.

The aging span is known for getting stuck in the open position, delaying thousands of commuters.

RELATED STORY: Portal Bridge Replacement At Last Gets $91.5 Million Go-Ahead Funding

Gov. Phil Murphy called the funding a huge win for New Jersey, the region and the nation’s economy.

The project now enters its engineering phase.

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