New Jersey’s construction and infrastructure scene is booming, creating huge opportunities for businesses, according to industry and government experts who spoke at the Alliance for Action’s recent 40th Annual Construction Forecast event in Edison.
The state is on track to spend a record $57.6 billion on construction projects over the next two years, a 5.17% increase from last year’s forecast. With $29.7 billion in spending in 2025 and $28 billion in 2026, these projects will help drive the state’s economy and open pathways for new jobs and more business opportunities.
“These numbers represent significant growth and optimism for New Jersey’s construction industry, which means great news for the entire state,” said Jerry Keenan, president of the NJ Alliance for Action, a nonpartisan nonprofit that includes thousands of leaders from business, labor, government, utilities, education, and others.
“The jobs and economic opportunities created by construction improve the lives of everyone in New Jersey,” Keenan said.
Key sectors driving this growth through FY26 include:
- Utilities: Nearly $15.5 billion in capital infrastructure spending on water, sewer, gas, and electric projects.
- Hospitals: $4.4 billion in expansions and renovations.
- New Jersey Economic Development Authority: $5.6 billion in state-backed projects.
- Port Authority of NY & NJ: $4.2 billion on aviation, tunnels, bridges, and more.
Other significant projects include:
- The New Jersey Schools Development Authority’s $1 billion in planned school construction.
- The New Jersey Turnpike Authority’s $3.1 billion on various projects.
- The New Jersey Department of Transportation’s $2.2 billion for bridges, highways, and safety improvements.
NJDOT Assistant Commissioner Parth Oza told the gathering the department is following up a record-breaking FY24 capital program with another billion-dollar-plus program in FY25, comprising a wide range of projects that replace aging bridges, resurface our highways, ease congestion, and make travel safer for all roadway users.
Photo Caption: New Jersey Turnpike Authority Acting Chief Engineer Dan Hesslein speaking at the NJ Alliance for Action’s 40th Annual Construction Forecast event in Edison on Nov. 7. – Photo credit NJ Alliance for Action.
