How Will New Jersey Benefit from the Landmark Infrastructure Bill?

How Will New Jersey Benefit from the Landmark Infrastructure Bill?

New Jersey is poised to reap significant benefits from the landmark $1.2 trillion infrastructure bill signed into law by President Joe Biden...

New Jersey is poised to reap significant benefits from the landmark $1.2 trillion infrastructure bill signed into law by President Joe Biden. The increased federal funding is good news for New Jersey residents who must contend with the state’s aging transit and other infrastructure throughout their daily lives. It will also provide tremendous opportunities for New Jersey businesses, including developers, engineers, environmental service providers, and construction companies.

Infrastructure Investment and Jobs Act

The bipartisan Infrastructure Investment and Jobs Act (H.R. 3684) aims to make historic investments in the nation’s roads, bridges, ports, and rail transit. It also contains significant funding for safe water, the electric grid, high-speed internet, and environmental remediation. After months of negotiation, the massive spending bill cleared the House by a vote of 228-206 on November 5, 2021. Just over a week later, President Joe Biden signed it into law.

Now that the infrastructure bill is law, federal agencies like the Department of Transportation, the Department of Energy, and the Environmental Protection Agency will be tasked with implementing it. The federal agencies will need to develop new programs and revamp existing ones, as well as draft the rules and regulations to govern them. Given that they own or operate a large share of the country’s infrastructure, state agencies and local municipalities will also play a major role in the rollout, which will include allocating funding and executing needed infrastructure projects.

New Jersey’s Funding Under Infrastructure Bill

Under the bipartisan Infrastructure Investment and Jobs Act, New Jersey will receive an estimated $12.31 billion in guaranteed transportation and transit funding formula dollars over the next five years. The state will also receive a minimum of $100 million to expand broadband internet access.

“As President Biden signs the Infrastructure Investment and Jobs Act into law today, New Jerseyans can expect to see billions of dollars for our state’s infrastructure – from repairing roads and bridges to replacing lead pipes and cleaning Superfund Sites, and advancing the Gateway Project,” Sen. Cory Booker said in a press statement outlining New Jersey’s share of the infrastructure funding. “In addition to funding critical infrastructure projects, these investments will also enhance our nation’s competitiveness and position our economy for continued growth by putting more Americans to work. I am proud to join Senator Menendez to highlight just one of many projects throughout New Jersey that stand to benefit from this historic legislation.”

Below is brief summary of the infrastructure funding New Jersey can expect to receive:

Transportation

• Highways/Roads: $6,883,719,399
• Bridges: $1,146,780,115
• Electric Vehicles: $104,373,268       
• Ferry Service: $24,407,410

Transit

• Total: $4,154,648,806
• FY21: $626,068,511
• FY22: $792,674,692
• FY23: $809,730,546
• FY24: $831,558,775
• FY25: $849,219,308
• FY26: $871,465,485

Broadband

• $100,000,000 (min.)

The Infrastructure Investment and Jobs Act also includes additional infrastructure funding for federal programs that will benefit New Jersey, namely:

Gateway Project

• Amtrak’s Northeast Corridor (NEC): $30,000,000,000
• Capital Improvement Grants: Supplemental appropriation of $8,000,000,000 and annual authorization of $3,000,000,000

Airports (Funding is national over the next five years)

• Airport Infrastructure Grants: $15,000,000,000
• Airport Terminal Program:  $5,000,000,000

Water Infrastructure (Funding is national over the next five years)

• Drinking Water State Revolving Funds: $15,000,000,000  
• Clean Water State Revolving Funds: $11,700,000,000
• Lead Contamination in Schools: $200,000,000
• PFAS Contamination Remediation: $10,000,000,000

Superfund/Brownfields

• $5,000,000,000 (While funding is national, New Jersey has the most Superfund sites in the nation)

Flood Resiliency (Funding is national over the next five years)

• Flood Mitigation Assistance Grants: $3,500,000,000

Weatherization Assistance (To reduce energy costs for homeowners)

• $3,500,000,000

Cybersecurity (To modernize and enhance our nation’s cybersecurity capabilities)

• $2,000,000,000

How Scarinci Hollenbeck Can Help

With the ability to draw on the knowledge and experience of attorneys from a wide range of practice areas, Scarinci Hollenbeck is uniquely poised to help New Jersey businesses reap the benefits of the Infrastructure Investment and Jobs Act. Whether you need assistance securing project funding, pursuing investment opportunities, navigating the permitting process, executing legal agreements, or anything in between, we are here to help.

If you have questions, please contact us

If you have any questions or if you would like to discuss the matter further, please contact me, John Scagnelli, or the Scarinci Hollenbeck attorney with whom you work, at 201-896-4100.