Building our Future bond approved
November 9th, 2012
Voters overwhelmingly (62 percent) approved the $750 million bond question to finance construction of classrooms, laboratories and libraries at state colleges and universities. It marks the first time in 24 years that the state agreed to invest in higher education.
CIANJ was part of a coalition of more than 200 businesses groups, schools, unions and elected officials which endorsed the bond sale. Business lent its support because a top-notch workforce has always been one of New Jersey’s assets and improvements to our college campuses will reinforce it. Business recognizes enhancing its relationships with research institutions could lift our economy also, since other states, like Massachusetts, foster these connections and attract businesses to relocate there.
State colleges and universities will now compete for a portion of the $750 million. The program requires the schools to provide 25 percent in match funds to be eligible for financing.