The passage by Congress of the $1.2 trillion Infrastructure Investment and Jobs Act is great news for our state and is the jump-start New Jersey needs to begin a robust economic recovery.
This legislation allocates more than $12 billion of investment in New Jersey’s roads, bridges, public transportation, water and sewer piping, and high-speed internet networks.
The investment will generate thousands of good paying jobs and help upgrade our infrastructure, the foundation of New Jersey’s economy.
The New Jersey Chamber of Commerce thanks our state’s congressional delegation, all of whom voted 'yes' on the infrastructure legislation. The N.J. Chamber wishes to especially acknowledge Rep. Josh Gottheimer (D-5), who played an instrumental role in getting this momentous bill through a contentious Congress and over the finish line.
Now New Jersey state leaders have a rare chance to work in tandem with their Washington counterparts to really ignite our state’s economy.
As the N.J. Chamber has advocated for months, state leaders need to release federal pandemic aid to help businesses overcome the obstacles preventing them from achieving the recovery they desire.
The aid can come in the form of:
- capital for cash-starved businesses.
- additional funding for Gov. Murphy’s “Return and Earn” program, which provides back-to-work bonuses and workforce development dollars to help alleviate worker shortages.
- replenishing the state's Unemployment Insurance Fund so employers aren't socked with more tax increases to fill the fund.
In last Tuesday’s elections, voters sent strong messages to elected officials. One of the loudest was that our economy and jobs need to be a higher priority.
The infusion of the federal infrastructure money and pandemic aid would give New Jersey’s economy a double shot of adrenaline that could launch a vibrant economic rebound across the state.
We need to take advantage of this opportunity.
These and other ways to get New Jersey’s economy back to full throttle will be the focus of the N.J. Chamber’s ReNEW JERSEY BUSINESS SUMMIT ‘22 at the Borgata Hotel in Atlantic City on April 13 and 14.