The terminal comes from a $117 million deal reached in October 2011 between the U.S. Department of Transportation, Delta Airways and U.S. Airlines.
Under the agreement, Delta will operate an additional 116 to 132 slots at LaGuardia and will subsequently give up some of its slots at Washington Reagan National Airport in Washington D.C.
The multi-million construction program will link a terminal to between U.S. Airways and Delta at LaGuardia.
The agreement is expected to generate roughly 6,000 construction, airport operational and tourism-related jobs in New York City, according to Crowley's office. Delta also agreed to phase out its use of older, loud turbo-propelled planes for quieter jets to reduce noise pollution in the communities near the airport.
“This deal will bring many benefits to Queens and New York, including the creation of thousands of new jobs, increased economic activity in and around LaGuardia, improved air service and reduced noise pollution,” Crowley said in a statement when the agreement was met.