An estimated $58.4 billion in capital investment will flow into New Jersey the next two years, officials said Nov. 7 at the New Jersey Alliance for Action’s 41st Annual Construction Forecast. The outlook served as a blueprint for New Jersey’s economy, construction industry, and capital investments for 2026 and 2027.
The insights on upcoming construction investments crossed sectors of infrastructure, transportation, utilities, education, health care, environmental protection and remediation and more.
The various sectors will invest a combined total of $29.6 billion in 2026 and $28.8 billion in 2027.
Public water, sewer, gas and electric utilities announced $17.7 billion over the next two years on capital infrastructure investments. Hospitals and health-care entities will invest over $6.2 billion across 2026 and 2027. NJ Transit plans to spend $5 billion over the next two years, including $814 million in station improvements.
The New Jersey Turnpike Authority shared details on $2.2 billion in 2026 and $3.6 billion in 2027. Major upcoming projects include the Newark Bay Bridge, widening of exits 1-4 and Garden State Parkway improvements.
“Construction investment is the powerhouse fueling New Jersey’s economy, and it has been for decades,” NJ Alliance for Action President Jerry Keenan said. “These projects uplift and improve the communities they’re in by creating jobs, supporting local businesses and vendors, and improving resilience of vital resources.”
Jennifer Keyes Maloney, executive director of the New Jersey Association of State Colleges and Universities, said Gov. Phil Murphy has approved more than $243 million for deferred-maintenance improvements at colleges and universities across the state.
The Legislature has 45 to 60 days to review the plan. If the lawmakers take no action, the projects are automatically approved. This funding will address campus repairs, student safety and possibly lead to more construction work at institutions statewide.
“This morning’s forecast proves the construction industry is not slowing down any time soon. New Jersey is continuing to invest in the systems, infrastructure, and opportunities that improve lives across the state,” Keenan said.
