Listen to this articleNew Jersey Alliance for Action projects capital investment in the state for the next two-year cycle will top last year’s outlook.
During its 41st Annual Construction Forecast Nov. 7, NJAA estimated spending will hit $58.4 billion in 2026–2027. That breaks down to a combined total of $29.6 billion in the former and $28.8 billion in the latter. The increase over the 2025–2026 outlook continues an upward trend. Last year’s $57.6 billion projection had marked a more than 5% increase over the previous two-year outlook.
This year’s event also featured insights on upcoming investments across infrastructure, transportation, utilities, education, health care, environmental protection and remediation, and more.
Take a closer look at the NJ Alliance for Action Construction Forecast projections here.
2026–2027 capital investment highlights include:
- $17.7 billion toward public water, sewer, gas and electric utilities infrastructure
- $6.2 billion from hospitals and health care
- $5 billion in spending by NJ Transit, including $814 million in station improvements
- $2.2 billion and $3.6 billion in spending by New Jersey Turnpike Authority in 2026 and 2027, respectively
- Major projects include: Newark Bay Bridge, Exits 1–4 widening, Garden State Parkway improvements
“Construction investment is the power fueling New Jersey’s economy, and is has been for decades,” commented NJ Alliance for Action President Jerry Keenan. “These projects uplift and improve the communities they’re in by creating jobs, supporting local businesses and vendors, and improving resilience of vital resources.”
Continuing ed
During the event, New Jersey Association of State Colleges and Universities Executive Director Jennifer Keyes Maloney shared details about a recent approval from Gov. Phil Murphy. The plan for more than $243 million for deferred maintenance improvements at New Jersey colleges and universities next heads to the Legislature to review.
According to NJAA, if no action occurs during that 45-to-60 day period the projects are automatically approved.
The funding would go toward campus repairs to improve student safety. And, the Alliance noted, spark additional construction work statewide.
Keenan said the forecast “proves the construction industry is not slowing down any time soon.” That sentiment also came across during The Associated Construction Contractors of New Jersey’s Fall Convention.
New Jersey is continuing to invest in the systems, infrastructure, and opportunities that improve lives across the state,” Keenan said.
Founded in 1974, non-partisan, nonprofit association NJ Alliance for Action represents thousands of statewide business, labor, government, utility, education, professional and other leaders.
