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Monday, December 23, 2024

New Jersey announces funding initiatives for education, transportation, and retirement savings

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Governor Phil Murphy | Official website of Phil Murphy

Governor Phil Murphy | Official website of Phil Murphy

Governor Phil Murphy and Acting Education Commissioner Kevin Dehmer have announced over $42 million in federal grant funding to enhance preschool facilities across 22 New Jersey school districts. This initiative is part of the Murphy Administration's efforts to provide universal high-quality preschool access for families in the state.

Governor Murphy emphasized the importance of early education, stating, "High-quality preschool can positively impact the trajectory of a child’s life, which is why we have made it our mission to expand access to these critical programs." He noted that this funding will support construction and expansion projects aimed at achieving universal preschool in New Jersey.

Acting Commissioner Dehmer highlighted the challenges faced by many districts due to inadequate facilities. "Families and educators in many school districts have been eager to establish new, high-quality preschool programs," he said. The initiative aims to address these challenges by providing necessary funds for building or renovating facilities specifically for preschool students.

The $42 million grant represents the second round of Universal Preschool Facilities Expansion Grant funding from a total of $120 million allocated through federal American Rescue Plan Act funds. The first round included over $74 million dedicated to similar projects.

In another development, Governor Murphy announced $11.7 million in Safe Streets to Transit Program (SSTT) grants for 21 projects across 10 counties. These grants aim to improve infrastructure around transit facilities, enhancing safety and accessibility for mass transit users.

"Mass transit is a critical component in moving New Jerseyans efficiently throughout our state and region," said Governor Murphy. NJDOT Commissioner Fran O’Connor added that safety is paramount, especially for pedestrians and those with mobility impairments.

Additionally, Governor Murphy revealed 13 Bikeway Grants totaling $6.2 million intended to advance local bikeway projects in nine counties. These grants are part of an effort to promote active transportation alternatives that reduce car reliance and increase community safety.

State Treasurer Elizabeth Maher Muoio reported that RetireReady NJ has reached $1 million in retirement savings since its launch five months ago. This program requires businesses with 25 or more employees without existing retirement plans to register, offering employees options like Roth or Traditional IRAs through payroll deductions.

"This milestone represents a crucial step forward towards financial security in retirement for many New Jerseyans," stated State Treasurer Muoio, expressing gratitude towards those who contributed to spreading awareness about RetireReady NJ.

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