STATEN ISLAND, N.Y. -- Democratic President Barack Obama on Tuesday signed into law a bill sponsored by GOP Rep. Michael Grimm to allow the construction of a natural gas pipeline that the congressman said will create close to 300 jobs and bring clean energy to New York City.

"In the aftermath of Sandy, New York City is in desperate need of revenue and jobs, which is why I am thrilled that my legislation was signed into law today," said Grimm (R-Staten Island/Brooklyn).

The New York City Natural Gas Supply Enhancement Act will allow the pipeline to be built in the New York portion of the Gateway National Recreation Area.

The bill was introduced with Reps. Gregory Meeks (D-Queens) and Robert Turner (R-Brooklyn/Queens), and is the second Grimm bill to be signed into law.

Grimm said the bill "is the perfect example of government supporting private-sector job growth here in NYC -- without any federal spending -- while bringing clean, affordable energy to our residents and businesses."

Said Grimm, "At a time when many in NYC have suffered such great loss, this is welcomed news as we seek to rebuild our local economy and our communities."

Mayor Michael Bloomberg also hailed the signing of the bill.

"This pipeline will help us build a stable, clean-energy future for New Yorkers and will ensure the reliability of the city's future energy needs," Bloomberg said.

The project was included in Bloomberg's PlaNYC2030 report and is supported by the City of New York, the National Parks Service, and the Regional Plan Association.

Bloomberg thanked Grimm and the House lawmakers, as well as U.S. Sen. Charles Schumer (D-N.Y.), "for their leadership in securing this victory for New York City."

The bill first passed the House on Feb. 6.

The project will generate an estimated $265 million in construction activity, almost 300 local construction jobs, and about $8 million in annual local property taxes, according to a statement released by Grimm's office.

It will also help bring additional economical natural gas to New York City and will restore the hangars at Floyd Bennett Field to historical standards at no cost to the government.

The current pipeline system serving the Brooklyn and Queens portion of NYC was built 40 to 60 years ago and can no longer meet current demand, Grimm's office said.

The bill allows for a new pipeline to be built off the existing Williams pipeline that currently brings natural gas from New Jersey to Long Island.

The new pipeline will pass underneath Jacob Riis Park in the Rockaways portion of Queens and under Jamaica Bay to a new meter and regulator station on Floyd Bennett Field in Brooklyn. The planned route will avoid residential, commercial and environmentally sensitive areas.

Advance Political Editor Tom Wrobleski writes the Polit Bureau blog. Follow him on Twitter.