Murphy announces $400 million in funding for higher education facilities

The state will give out $400 million in capital facilities funding to support colleges and universities, announced Gov. Phil Murphy (D-N.J.) today in a press conference at the Kathleen W. Ludwig Global Village Learning Center on Douglass campus. 

“Across the Rutgers—New Brunswick campus, multiple businesses, buildings and learning spaces have been built, renovated, torn down, rebuilt and renovated anew, all to keep up with the ever-changing needs of higher education,” Murphy said. “This isn’t a Rutgers-only occurrence. Every one of our college campuses has undergone the same reimagining.”

To support these initiatives, state funding will be provided through four revolving bond programs: a higher education capital improvement fund, a facilities trust fund, a technology infrastructure fund and an equipment leasing fund, Murphy said.

The higher education capital improvement fund will provide grants to cover the cost of changes to facility and technology infrastructure, according to a press release. The facilities trust fund will grant funding for improving instructional, laboratory, communication and research facilities.

The equipment leasing fund will help finance the leasing of equipment to colleges and universities, and the technology infrastructure fund will support the initial acquisition and installation of technology infrastructure for these institutions.

Murphy said this funding program aligns with the state’s goal of encouraging high-achieving in-state and out-of-state students to find their college match in New Jersey.

“Whether it is a top-notch science lab, a state-of-the-art technology center or merely a modern and safe library for studying, we need to make sure our campuses can compete at every level, and that includes in price,” Murphy said. “Every dollar we provide at the state level is a dollar that does not have to be tacked on to a tuition bill.”

He said he anticipates grant applications to open in the spring next year. The state expects to release the awards in late 2022, according to the release.

“Gov. Murphy’s continued commitment to partnerships that invest in higher education and the opportunity that it affords is essential to creating the equity and innovation that 21st century New Jersey demands and expects,” said University President Jonathan Holloway. “This is welcome news for all of us in the higher education community.”