PolitickerNJ Wire Feed

By Tom Hester | November 7th, 2012 - 12:08am
| More

Speaker Oliver, Riley, Singleton, Coutinho & Giblin Praise NJ Voters for OKing $750 Million Bond Issue for Infrastructure Improvements to NJ’s Colleges & Universities

(TRENTON) – Calling it an overdue investment in New Jersey’s future, Assembly Speaker Sheila Y. Oliver and fellow Assembly Democrats Celeste Riley, Troy Singleton, Albert Coutinho and Thomas P. Giblin on Tuesday praised New Jersey voters for - as called by The Associated Press - green-lighting a $750 million bond issue to finance higher education capital projects that will help increase the academic competitiveness of New Jersey’s public and private colleges and universities.

“I want to thank the New Jersey voters for realizing the importance of investing in our colleges and universities to the prosperity of our state,” said Oliver (D-Essex/Passaic). “This will not only help our institutions of higher learning attract and retain students, and in turn, industries looking for a capable workforce, but it will create jobs as improvement projects get underway. It’s an all-around win.”

“New Jersey struggles to keep college bound students in the state, despite boasting plenty of accomplished colleges and universities. Thanks to the voters, we are on our way to changing that,” said Riley (D-Gloucester/Salem/Cumberland), who chairs the Assembly Higher Education Committee. “By strengthening our institutions of higher learning, we strengthen New Jersey.” “We are only as strong as our people. This bond issue will help New Jersey keep the educated workforce necessary to retain and attract business and industry to our state,” said Singleton (D-Burlington). “This was an overdue investment that will reap benefits for future generations.”

“The best investment we can make to stay ahead of the competition is in education,” said Coutinho (D-Essex). “I’m glad the voters agreed and that our colleges and universities will now have the resources to enhance their campuses and help advance the state’s economic growth.”

“College is an investment that not many young people can afford to make. With this bond issue, our colleges will be able to make needed infrastructure improvements that will keep them competitive, without adding to soaring tuition costs,” said Giblin (D-Essex/Passaic).

The voter-approved referendum authorizes the state to issue $750 million in state general obligation bonds to provide grants to New Jersey’s public independent institutions of higher education to construct and equip higher education facilities. The grants will be allocated in the following manner:

· $300 million for public research universities;

· $247.5 million for state colleges and universities;

· $150 million for county colleges; and

· $52.5 million for private institutions of higher education, except for private institutions with total endowments of more than $1 billion.

According to The Report of the Governor’s Task Force on Higher Education issued in December 2010, New Jersey’s workforce will require more baccalaureate degrees than the workforce of any other state except Massachusetts.

According to the report, New Jersey leads the nation in the net outmigration of college-bound students, losing about 30,000 first-year students a year while admitting only about 4,000 students from other states; and the task force highlighted the urgent need to stem the tide of the brightest high school graduates leaving the state to attend college. Demographic projections indicate that New Jersey will experience significant growth in its 18-24 year-old population, and the lack of adequate facilities has left institutions of higher education in the state entirely unprepared to accommodate the anticipated growth in student population.

Wake-Up Call

Morning Digest: September 19th

NBC News: Federal charges ruled out for Christie in Bridgegate scandal NBC News tonight is reporting that federal investigators say after nine months of investigating Bridgegate there is 'no evidence" that Gov. Chris Christie had advance knowledge about any politically motivated scheme around the bridge lane closures at the...

Op-Ed

Legislation needed for publicly financed gubernatorial elections

By JEFF BRINDLE It is critical that the Legislature soon enact a pending bill that would ensure the state’s Gubernatorial Public Financing Program is available in the event of a special election for governor.  Not only is there no current legal... Read More >

Contributors

(9-17-14) Viral Video Prompts Questionable NJ Municipal Ordinance -  Socrates said, “While I might disagree with what you say, I will defend to the death your right to say... more »
The Correct Foreign Policy – Neither Fortress America Nor Pax Americana      Last week marked the 75th anniversary of the beginning of World War 2.  It started with the... more »
(Asbury Park, NJ) -- There's a word for someone who says one thing and does another: hypocrite.  There's no shortage of 'em in Trenton -- from ... more »
 The following letter was sent today to Republican state legislators, county chairs, state committee members, and New Hampshire... more »

Quote of the Day

quote of the day

“The fact is that they’ve been digging around for eight months now and have found absolutely nothing. Wrap up your work. Do your job." - Gov. Chris Christie

- PolitickerNJ

Poll

Should the Joint Legisaltive Committee investigating Bridgegate 'wrap it up?':

Blogroll

Visit the PolitickerNJ.com/resources page for links to the best collection of information on New Jersey state government.

 

  • Polls
  • The best blogs
  • Columnists
  • State election results
  • Assembly election results
  • Local party websites
  • And more.

PolitickerNJ.com/resources