Benefitting MTA Riders and NJ Businesses
A new report released today by Reinvent Albany, MTA is Big Business for New Jersey, shows that the Metropolitan Transportation Authority (MTA) paid New Jersey businesses $3.3 billion from 2014-2022 to buy goods and services for capital construction projects and other MTA needs: the second highest amount of any state, behind only New York.
The report is an update of our 2020 report, Investing in the MTA is Investing in America, which made the case that federal funding for the MTA would benefit businesses across the country.
This 2023 report update focuses on business in NJ, showing that MTA payments have been made to businesses located in every single NJ congressional district. A list of MTA payments by congressional district from 2014-2022 is below.
The MTA is the largest mass transit provider in the country, carrying 40% of national ridership, and is the driver of about 10% of the US GDP. With a $18B annual operating budget and $55B 2020-2024 capital plan, the MTA’s contributions to the economy of the NYC Metro Region are vast, including to NJ.
Congestion pricing will bring in $15 billion for MTA capital projects, many of which are worked on directly by NJ vendors, including Walsh Construction Company, Cummins, Prismatic Development Corporation, and EE Cruz and Company, among others.
“The MTA is a major job creator and contributor to the region’s economy, and it is clear that New Jersey businesses are big players in MTA contracting,” said Rachael Fauss, Senior Policy Advisor for Reinvent Albany, the author of the report. “Congestion pricing will bring in $15 billion alone for the MTA’s $55 billion 2020-2024 capital plan, and New Jersey businesses stand to profit from this major increase in MTA capital spending.”
“Reinvent Albany’s research demonstrates how closely entwined the economies of New York and New Jersey are, and why both states have an important stake in making sure congestion pricing succeeds in our region,” said Tom Wright, President & CEO of Regional Plan Association. “In addition to all the good reasons for supporting congestion pricing – it will reduce traffic congestion, improve air quality, and fund mass transit – this report shows that funding the MTA is also investing in communities across New York and New Jersey. Congestion pricing will fund the MTA’s 5-year capital plan, which will support NYC’s subway and bus systems, Second Avenue Subway, and other critical investments. The states need to work together to fashion a policy that works for both states and moves forward as soon as possible.”
“We applaud our colleagues at Reinvent Albany for this insightful and important report,” said Renae Reynolds, Executive Director at Tri-State Transportation Campaign. “Their findings highlight the significant economic impact of the MTA’s spending in New Jersey, with a staggering $3.3 billion paid to local companies from 2014 to 2022. This underscores the vital role that the MTA plays in supporting businesses and fostering economic growth beyond New York’s borders and across the tri-state region.”
See below for the full report, or click here to view the report as a PDF.