Investment in New Jersey’s Water Infrastructure Would Yield Major Benefits for Garden State, ARTBA Chief Economist Testifies

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Investment in New Jersey’s Water Infrastructure Would Yield Major Benefits for Garden State, ARTBA Chief Economist Testifies

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Investment in New Jersey’s Water Infrastructure Would Yield Major Benefits for Garden State, ARTBA Chief Economist Testifies 

(WASHINGTON)— Investing in New Jersey’s drinking water, wastewater and stormwater infrastructure provides an immediate economic boost while creating long-lasting benefits for businesses and residents, American Road & Transportation Builders Association (ARTBA) Chief Economist Dr. Alison Black said in testimony before the New Jersey Assembly Special Committee on Infrastructure and Natural Resources.

“New Jersey residents and businesses rely on infrastructure to supply clean drinking water, treat wastewater and provide reliable power generation,” Dr. Black testified. “Increased investment will not only help prevent future service disruptions and potential public health hazards, but also have enormous positive impacts on the state’s economic productivity and job creation.”

Dr. Black’s testimony is sourced to a comprehensive 2019 analysis by ARTBA conducted for the Utility and Transportation Contractors Association of New Jersey (UTCA). It estimated that an additional $1 billion annual investment dedicated to improving New Jersey’s drinking water, wastewater and stormwater systems would generate $3 billion in economic benefits and support nearly 14,000 jobs.

Zoe Baldwin, Director of Government Affairs for ARTBA affiliate the Utility & Transportation Contractors Association of NJ (UTCA) also testified during the hearing, highlighting the boost water investment could provide to New Jersey’s economic recovery.

“Water work is a win-win-win for jobs, public health, and the environment, and now more than ever, we need those kinds of odds,” Baldwin stated. “State and federal resources are stretched far too thin in an effort cover the mounting needs of the COVID-19 pandemic, and we need to be sure that our public investments are doing double, if not triple-duty. Investment in water infrastructure certainly fits the bill.”

Among the other key findings in the report that were highlighted by Dr. Black:

  • Sales and output by businesses in all sectors will increase by $2.1 billion for every $1 billion invested;
  • 13,787 jobs would be supported or created throughout the state economy every year;
  • Those workers will earn a cumulative $739.5 million per annum and will generate $143 million in additional state and local tax revenues, including $62.8 million in state and federal payroll taxes, $61.1 million in state income tax and corporate business tax revenues, and $19.3 million in state and local sales and use tax revenues; and
  • These investments will contribute $1.2 billion to the state’s GDP annually.

To view the full report, visit the “Economics” section of artba.org.

Since 2000, Dr. Black and her team have authored nearly 100 studies examining state and national transportation funding and investment patterns. Dr. Black has a Ph.D. in economics from the George Washington University and a master’s in international economics and Latin American Studies from the Johns Hopkins School of Advanced International Studies.

The Utility and Transportation Contractors Association of New Jersey is a non-profit trade association headquartered in Wall Township, New Jersey. Founded in 1965, UTCA represents approximately 1,000 member firms in the public and private sectors, active in all phases of heavy, highway, utility, and marine construction, as well as site work including remediation of brownfields and contaminated sites.

The American Road & Transportation Builders Association (ARTBA) brings together all facets of the transportation construction industry to responsibly advocate for infrastructure investment and policy that meet the nation’s need for safe and efficient travel.  ARTBA also offers value-added programs and services providing its members with a competitive edge.

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By |2020-07-23T16:16:41+00:00July 23rd, 2020|2020 Press Releases, Economics, Government Affairs, Safety|Comments Off on Investment in New Jersey’s Water Infrastructure Would Yield Major Benefits for Garden State, ARTBA Chief Economist Testifies

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