Anticipating New Jersey economic stimulus package, NJ state colleges have $500 million in projects ready
December 2008
Contact: Paul Shelly, Director of Communications & Marketing (609) 989-1100 office; (610) 504-7271 cell
New Jersey's nine state colleges and universities have immediately ready $500 million in urgent facilities improvements that could be part of an emerging national and state economic stimulus package. These projects, collectively, could create or help support about 10,000 new jobs in the region and complement other economic stimulus efforts initiated by the governor and state Assembly and Senate leaders, according to the group that represents them, New Jersey Association of State Colleges and Universities (ASCU).
In mid-December, each state college/university president and ASCU's executive director, Dr. Darryl G. Greer, joined 36 other higher education leaders from across the U.S. who signed an open letter to President-Elect Obama calling for allocation of $40-45 billion from the federal government to the states for higher education facilities projects as part of a national economic stimulus package. The letter, also supported by top officials of the Carnegie Corporation, called for the infrastructure investment to address the current economic crisis and to make sure the U.S. does not continue to slip - compared to other developed nations - in educational attainment of its population. The $40-45 billion recommended by the heads of higher education institutions, associations and systems nationally would be a 5% share of the anticipated total federal stimulus package.
According to Ramapo College President Peter Mercer who heads the ASCU presidents council, "carrying out these projects would have multiple benefits to students and the economy: create jobs in design and construction, increase college capacity which is currently strained, keep student costs down long-term, better prepare students for 21st century careers, and help fill urgent workforce needs."
The projects that are ready to go include: academic building expansions, academic equipment/technology upgrades, safety enhancements, energy efficiency steps and other improvements reducing institutions' carbon "footprints." This list also includes steps to protect the long-term integrity of existing structures. Groundbreaking could begin on any of these projects in six months or less, according to the Association.
"We think that higher education facilities investment offers a very large array of benefits for the stimulus dollar invested and immediately improves New Jersey's business climate," says ASCU director Darryl G. Greer. "These benefits are cumulative and will compound." They include:
| n | Immediate economic benefits, including design and construction job creation, with effect on auxiliary industries (materials, supplies and equipment rental firms); |
| n | Intermediate term benefits, including the capacity to serve more students, less upward pressure on tuition, preparation of more students for the workforce, increased student safety and security, help fulfilling critical workforce needs, reduced energy consumption; and |
| n | Long-term benefits, including preservation of existing structures, long-term effect on keeping student fees and debt down (stemming from energy efficiency, obviation of need for students to finance new facilities through fees), capacity to educate more New Jersey students, increased ability to satisfy New Jersey workforce and public service needs. |
Greer said his group looks forward to working closely with state officials, labor leaders and others on getting projects underway once funds become available. "The governor and legislative leaders have been working hard on finding ways to stimulate the economy, create jobs, and strengthen opportunity in the Garden State. They understand the role that higher education can play now and in the future and how such projects can strengthen both educational opportunity and the environment for business in New Jersey," he said.
Relevant facts: The last citizen-approved bond for higher education facilities was 20 years ago: the 1988 Jobs, Education, Competitiveness Bond Issue. Five years ago, when the state was debating a general obligation bond for higher education, the nine state colleges and universities identified nearly $1 billion in unmet facilities needs. ASCU believes that any federal stimulus package involving higher education facilities would include other sectors of higher education as well. Many state and national leaders view this as an opportune time to invest in economic growth through higher education.
ASCU is a nonprofit, nonpartisan advocacy organization created by the State of New Jersey in 1985. Its members are: The College of New Jersey, Kean University, Montclair State University, New Jersey City University, Ramapo College of New Jersey, Richard Stockton College, Rowan University, Thomas Edison State College and William Paterson University.