Long-Term Infrastructure Needs
The Governor's Higher Education Task Force identified finding colleges and universities long-term facilities needs as a top priority for making New Jersey a leader in serving its students and advancing its economic competitiveness. Until 2012, there had not been, sicne 1988, a general obligation bond for all the state's higher education facilities needs.
Critical Campus Infrastructure Needs
There is currently at least $1 billion in critical infrastructure needs at senior public colleges and universities.
The Building Our Future Bond issue will make $750 million available statewide, including about $550 million for senior public colleges and universities. To help with other critical needs, New Jersey recently reauthorized four revolving higher education facilities funds administered by the NJ Educational Facilities Authority. This will make over $650 million available to New Jersey institutions of higher education.
Even with this substantial investment, not all of the state colleges' and universities' critical infrastructure needs will have been met. A strategy for continued investment in facilities will be vital to New Jersey's future.