The New Jersey Business & Industry Association supports A-34, which appropriates $34 million from the “Building Our Future Bond Act,” to help support 35 higher education construction projects at 32 institutions from the $1.3 billion bond issue previously approved by New Jersey voters.
The bill was approved today by the Assembly Higher Education Committee. The legislation is identical to a bill that was approved earlier this week (S-2897) by the Senate Budget and Appropriations Committtee.
The funding will go toward projects that will boost technology, support the health sciences and renovate laboratories and classrooms, benefitting thousands of students. These projects have been certified by Secretary of Higher Education Rochelle Hendricks.
“The higher education bond issue funds will enable our students to have the learning opportunities that are better than or equal to those offered by any other state,” said NJBIA President and CEO Michele Siekerka.
“We must reverse the trend where large numbers of our high school graduates attending college, leave New Jersey to continue their education. Taxpayers invest billions in the K-12 education of these students, only to see these youngest millennials leave the state for college and never return.”
For this round of funding the state received a total of 63 applications from 32 institutions. The applications were reviewed and recommendations were made by the Educational Facilities Authority, the Economic Development Authority, the Schools Development Authority and the Department of Treasury. The applications were required to show how the projects served students and aligned with the state’s future workforce needs.
The list of approved projects can be accessed by clicking here.
