An estimated $58.4 billion in capital investment will flow into New Jersey over the next two years, officials said on Friday, Nov. 7, at the New Jersey Alliance for Action’s 41st Annual Construction Forecast.
The first-hand insights on upcoming construction investments spanned infrastructure, transportation, utilities, education, healthcare, 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.
“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,” Keenan added.
Among the highlights:
- Public water, sewer, gas, and electric utilities announced $17.7 billion in capital infrastructure investments over the next two years.
- Hospitals and healthcare 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, Exits 1-4 Widening, and Garden State Parkway improvements.
Campus Repairs and Improvements
Gov. Phil Murphy approved more than $243 million for deferred-maintenance improvements at colleges and universities across the state, said Jennifer Keyes Maloney, Executive Director of the New Jersey Association of State Colleges and Universities.
The Legislature now has 45 to 60 days to review the plan, she said. If no action is taken, the projects are automatically approved. The funding will address long-overdue campus repairs, improve student safety, and spur additional construction at institutions across the state.
“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.
Blueprint For State’s Economy
The 41st Annual Construction Forecast revealed the blueprint for New Jersey’s economy, construction industry, and capital investments for 2026 and 2027, the New Jersey Alliance for Action said.
Attendees got a special insider’s preview of the next two-year construction cycle being prepared by public agencies and private industry in New Jersey. Attendees can use the information in this one-of-a-kind event to help compete for and complete anticipated projects.
Speakers provided details on upcoming construction, including investments in the fields of:
- Transportation
- Utilities
- Higher Education
- Health Care
- Corporate
- Primary & Secondary Schools
- Environmental Remediation
- Government
“These figures reflect a commitment to bettering the lives of people across the state through investments in improving and maintaining the places, systems, and resources New Jerseyans rely on every day,” according to the statement.
Some of the bigger projects include:
- NJ Utilities: $17.7 billion total projected.
- NJ Turnpike Authority: $ 5.8 billion total projected.
- NJ TRANSIT: $5.0 billion total projected.
- NJ Economic Development Authority: $4.3 billion total projected.
- NJ Hospitals Construction: $4.1 billion total projected.
- National Association of Industrial & Office Properties: $3.6 billion in total projected.
Click HERE to access the full chart of projected investments.
The Construction Forecast Sponsors
- Carpenter Contractor Trust
- Consigli
- Foley, Inc.
- George Harms Construction Co.
- GPI
- Hall Construction
- IBEW Local 102
- LiRo-Hill, a GISI Consulting Group Company
- PSE&G
- Weldon Materials
- Trinity Subsurface
About the New Jersey Alliance for Action
Since 1974, the New Jersey Alliance for Action has worked as a nonpartisan, nonprofit association representing thousands of business, labor, government, utility, education, professional, and other New Jersey leaders. Its mission is to improve New Jersey’s economy by promoting environmentally friendly capital construction and infrastructure investment.
For more information about upcoming construction and investment events, register with the New Jersey Alliance for Action HERE.