The Utility and Transportation Contractors Association released a report claiming an annual and slow-growing $1.65 billion investment in the New Jersey Turnpike Authority and other transportation agencies could generate tens of billions in economic activity through 2030.
“This report shows what many of us already know to be true: investment in infrastructure is one of the best ways to create economic growth and provide desperately needed jobs,” said UTCA CEO Robert Briant, Jr.
The study, authored by the American Roads & Transportation Builders Association, suggested that a $1.6 billion boost to capital investment to the New Jersey Turnpike Authority and the South Jersey Transportation Authority that would rise to $2.14 billion over the next decade would generate billions in revenue and economic activity over the next decade.
“This report shows what many of us already know to be true: investment in infrastructure is one of the best ways to create economic growth and provide desperately needed jobs,” said UTCA CEO Robert Briant, Jr. “The ability to support over 18,850 jobs a year is one we cannot turn our back on, especially as we grapple with how to move our economy forward. Enhancing our level of commitment to infrastructure investment will keep us safe and provide the jobs, income and economic investment New Jersey needs during these difficult times.”
They report claimed the investments would pay for themselves in the first year, drawing in $1.9 billion in tax revenues, a figure that the report claimed would rise to $2.4 billion by the turn of the decade.
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