UTCA RELEASES ARTBA REPORT SHOWING $69.5 BILLION IN NJ ECONOMIC ACTIVITY & 18,856 JOBS ANNUALLY FROM NJ TURNPIKE, NJ TRANSIT & SJTA CAPITAL PLAN INCREASED SPENDING

Farmingdale – The Utility and Transportation Contractors Association (UTCA) today released a new study from the American Road & Transportation Builders Association (ARTBA) entitled “The Economic Impacts of a $1.65 Billion Increase in Capital Investment by the New Turnpike Authority, New Jersey Transit and the South Jersey Transportation Authority.” The report found that an increase of $1.65 billion in transportation capital investment will generate over $69.5 billion in economic activity, earnings, and tax revenues between 2021 and 2030.

“This report shows what many of us already know to be true: investment in infrastructure is one of the best ways to create economic growth and provide desperately needed jobs,” said UTCA CEO Robert Briant, Jr. “The ability to support over 18,850 jobs a year is one we cannot turn our back on, especially as we grapple with how to move our economy forward. Enhancing our level of commitment to infrastructure investment will keep us safe and provide the jobs, income and economic investment New Jersey needs during these difficult times.”

In addition to $69.5 billion in economic activity, earnings, and tax revenues, the ARTBA report also found that a $1.65 billion increase in capital investment would:

• Create additional business activity for New Jersey firms adding up to nearly $38 billion, increasing from $3.3 billion in 2020 to over $4 billion in 2030. This includes all sectors of the economy—industries such as retail and wholesale trade, manufacturing, finance and healthcare.

• Support an average of 18,856 jobs per year throughout the economy. This grows from 16,354 jobs in 2020 to 21,090 supported jobs in 2030. Most of those jobs—54 percent—are outside of the construction industry.

• Workers from these jobs will earn an estimated $10.3 billion, with average annual wages growing from $896 million in 2020 to $1.2 billion in 2030.

• Allow the state to gain additional tax revenues, increasing from $1.9 billion in 2020 to $2.4 billion in 2030.

A copy of the report is attached.

About UTCA

UTCA of New Jersey is a non-profit trade association headquartered in Wall, New Jersey. UTCA currently has approximately 1,000 member firms in the public and private sectors, who are active in all phases of heavy, highway, utility, and marine construction, as well as site work including remediation of brownfields and contaminated sites. For more information, log on to http://www.utcanj.org and follow on Twitter @UTCANJ.

About ARTBA

ARTBA is a federation whose primary goal is to aggressively grow and protect transportation infrastructure investment to meet the public and business demand for safe and efficient travel. In support of this mission, ARTBA also provides programs and services designed to give its more than 8,000 public and private sector members a global competitive edge.

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