Remarks from Tom Bracken, Chairman, New Jersey Chamber of Commerce
Transportation New Jersey Press Conference
December 8, 2005, State House, Trenton, New Jersey

New Jersey’s business community is extremely concerned about the transportation funding crisis plaguing our state. That’s because without adequate roads and bridges to move people and goods effectively around New Jersey – and in and out of the region – our economy will crumble.

There is just no way around it. Every sector of business will be affected, including our Port companies, the pharmaceutical and telecommunications industries, utilities, entrepreneurs, manufacturers…the list is endless.

One of our main strengths compared to other states has always been our superior transportation network, but our infrastructure has been eroding over the years and we are now at the critical point.

According to the U.S. Department of Transportation, 36.6% of New Jersey’s bridges are structurally deficient or functionally obsolete. The U.S. DOT also reports that 23.3% of our roads have poor surface quality.

The roads are also dangerous. The National Transportation Research Group blames poor roadway conditions in New Jersey as a factor in approximately 30% of state traffic fatalities.

Companies looking to invest in New Jersey and create quality high paying jobs will shy away from our state if we just ignore these problems and hope they simply go away.

They will set up shop elsewhere – places where the average commute is not the third longest in the nation. They will go where it’s easy to transport goods out into the heartland of the country. They will go where poor roads are not responsible for an average $554 a year in extra auto repairs and costs.

For the companies that are already here, these issues are already in the forefront and are getting worse with each passing day. It is only a matter of time before these businesses, many of which are the largest in the world, simply go to locations where these challenges do not exist.

Or, where government leaders had the courage to tackle these problems before they got seriously out of control.

We need to demonstrate to all current and potential investors that New Jersey recognizes the seriousness of the situation and will address it effectively and immediately.

We have even more to lose if nothing is done. That’s because on July 29 the U.S. Congress passed a transportation funding bill that will send $5.6 billion to New Jersey for the construction and maintenance of highways, roads and bridges.

Over $2 billion will also be provided over the next six years for transit aid. New Jersey will receive more than $400 million for special projects, which will allow for improvements to Ports Newark and Elizabeth as well as an upgrade to the Northeast Corridor rail line.

None of the money passed by Congress will reach New Jersey if our state does not match the funds with its own funding plan.

The New Jersey Chamber of Commerce, along with our newly formed Platform for Progress Coalition, has been calling on our elected officials to develop a stable, long-term transportation funding program.

The time to act is now – during the current legislative session. We cannot afford to wait until next year when our legislators will be grappling with a projected $5.1 billion deficit.

Another consequence of not acting now is that our Department of Transportation will have to start almost immediately scaling back vital projects designed to improve the traffic flow in New Jersey.

The priority projects, if not started or completed, will result in more congestion and a loss of jobs. The funding for new projects as well as aid to counties and municipalities will also be in jeopardy.

We applaud Assemblyman Wisniewski for providing leadership by developing legislation that not only solves our funding problem, but also makes sure monies in the Transportation Trust Fund are used for only transportation projects.

This legislation will put the trust back in the Transportation Trust Fund, so that our citizens are assured that transportation dollars are not being used to pay for some other project. That’s a novel idea…right?

The New Jersey Chamber of Commerce requests Governor Codey and the State Legislature to work together with our members to fix this problem. Our economic success and the direction our state is headed in the coming years is closely linked to this issue.Once again, we ask that there are no more delays. Let’s finally roll up our sleeves and put this funding issue behind us, so that it no longer hangs over Legislature after Legislature and Administration after Administration.

If New Jersey is to reach its economic potential and be viewed as a pro-investment state by all, we must solve this starting today.

Thank you.

December  2005