How Murphy proposes to spend on job training, infrastructure, capital improvements and economic recovery

Plenty of planned investments in business community in governor’s $44.83B budget

Gov. Phil Murphy delivers his budget address. (Facebook)

Gov. Phil Murphy outlined dozens of proposals and programs for the state during his annual budget address Tuesday afternoon.

Here is a closer look at four items that most impact the business community — as presented by the governor.

How Murphy aims to prepare the workforce of the future

There are a number of plans for increased training, including:

  • The proposed budget provides $22.5 million for the Workforce Development Partnership Fund to support programs like the New Jersey Apprenticeship Network, which is slated to receive $12 million.
  • The budget proposes $5 million for the new Pay It Forward Fund/Career Impact Bond program in partnership with the New Jersey CEO Council (read full story here).
  • The proposed budget also provides $10 million in seed funding to implement Future of Work Task Force initiatives like Lifelong Learning Accounts and worker training stipends.
  • The budget also proposes $580,000 to help the new Office of Climate Action and the Green Economy lead the way in addressing climate change, ensuring New Jersey’s clean energy future, and transitioning to a green economy while prioritizing equity and environmental justice.

How Murphy aims to rebuild infrastructure while avoiding new debt

The governor has a number of proposals, including:

  • A $200 million direct appropriation to support the Offshore Wind Port;
  • $75 million for the new Capital Maintenance and Emergent Needs Grant program at the Schools Development Authority;
  • $60 million to support the continuation of the Drinking Water and Clean Water Infrastructure Fund;
  • An additional $20 million for beach replenishment;
  • $20 million for the Department of State’s Arts and Culture programs to create a more vibrant New Jersey

How Murphy aims to ‘supercharge’ (his word) the economic recovery

Roughly $200 million is on tap as part of a new multidepartmental economic growth initiative, including:

  • Reviving small businesses by investing $100 million over two years in the Main Street Recovery Finance Program;
  • $25 million for EDA’s lending programs, such as Premier Lender and Microbusinesses;
  • $20 million for the NJRA’s Urban Site Acquisition Fund and Redevelopment Investment Fund, the first state investment in the NJRA since 2002;
  • $15 million for permit modernization across state and local governments;
  • $13.5 million for the Department of Transportation’s Local Aid and Economic Development Grants, including the Transit Village, Safe Streets to Transit, and Bikeways programs;
  • $10 million for EDA’s Black and Latinx Seed Fund initiative;
  • $6.5 million for DCA’s Neighborhood Preservation Program and Main Street New Jersey, allowing each to expand to significantly more communities;
  • $5 million for the Department of State’s Business Marketing Initiative;
  • $3.2 million for the Commission on Science, Innovation and Technology;
  • $1 million for EDA’s NJ Ignite;
  • $500,000 to double funding for the EDA’s Small Businesses Bonding Readiness program.

How Murphy proposes to make capital investments & improvements

The proposed budget recommends $86.6 million for discretionary capital projects, which includes:

  • $29.8M for infrastructure projects;
  • $21M for emergent life safety and information technology projects;
  • $19.5M for life safety and security projects;
  • $9.9M for roof replacement projects;
  • $4.1M for fire safety projects.