NJASCU Statement on Voter Approval of the Building Our Future Bond Issue
Voter approval* of the Building Our Future Bond referendum is a multi-faceted and far-ranging win for New Jersey -- students, employers, the construction and trade industrieds, and New Jersey's ability to compete in a knowledge-based economy.
The bond issue will help our institutions build their highest priority needs -- many relate directly to the STEM fields and preparation for professionals crucial to the future of New Jersey.
The bond will also help make our institutions more affordable and accessible. We will also be able to retain more of our homegrown talent. We lose over 35,000 students a year to colleges in other states, which costs the state economy billions of dollars per year and the loss of much of our investment in young people. It is important for the public to know that 90% of students at institutions that will benefit from the bond issue are from the Garden State.
We are deeply grateful to the voters of New Jersey who came out in considerable numbers to cast their vote -- some at great personal inconvenience.
We appreciate the support of our coalition partners -- business, industry, and labor -- as well as the support of many New Jersey opinion leaders.
We look forward to informing the public on progress made over the months ahead as the institutions begin building facilities to serve the needs of tens of thousands of students from New Jersey and the priority needs of the state.
*At the time of this statement, 62.8% of the electorate had voted in favor of the bond issue.