On November 6, the first initiative
on the general election ballot in New Jersey is
the Building Our Future Bond Act
Vote Yes on Question 1.
For the latest information on the Building Our Future Bond Act, click here.
If approved by New Jersey voters in November, the Building Our Future referendum would authorize $750 million in bonds to provide grants to New Jersey’s colleges and universities – including Rider – to build new classroom and research facilities.
This initiative is a much-needed capital investment in academic and laboratory facilities at New Jersey's public and private institutions of higher education. It will prepare students to better compete in a global economy by providing them with a world class education, as well as attract businesses, innovators and entrepreneurs to New Jersey, and help power the state’s economy into the future.
Why is it so important to vote for proposition 1?
- Rider and Rider students will benefit directly, as a portion of the bond -- $50 million – will be set aside for building projects at New Jersey’s 14 private colleges and universities. But only if the referendum is passed by New Jersey voters on November 6th.
- New Jersey is one of only five states in the U.S. that has spent no money on capital improvements for higher education in the last five years, a list that includes Alabama and Montana. Meanwhile, states like New York and Connecticut are investing hundreds of millions of dollars annually in higher ed facilities.
- State-of-the-art facilities at New Jersey's colleges and universities mean a stronger economy into the future, by preparing our students to better compete with other countries in a global economy. Our ability to invest in our workforce means preparing for the jobs of the future and building a strong New Jersey economy.
- Bond Act funds will only be spent on academic and research buildings, not administration or athletic facilities, and colleges will pay at least 25% of the costs, enhancing the benefits of the Bond Act far beyond the initial investment.
Some Questions and Answers about the BUILDING OUR FUTURE Bond Act
Who supports this Act? Does it benefit one party more than another?
The Building Our Future Bond Act is truly bipartisan legislation. It is supported by Governor Chris Christie, and was passed overwhelmingly by the State Assembly (76-‐1) and the State Senate (38-‐1). In addition to the education community, it has broad support among New Jersey's business and labor communities because of its positive, lasting economic benefits for the state.
If everyone is behind this referendum, why wouldn’t some people vote for it?
With all ballot initiatives in a national election year, the challenge is always going to be to get voters to remember to actually vote on the ballot question, after they vote for president. There is typically a big drop-off in the number of voters who vote for the top of the ballot (for president, this year), but never move on “down the ballot” to vote on initiatives – almost half of voters! So we not only need to make certain as many people as possible vote this November, but that they also vote “yes” on initiative 1 – the Building Our Future Bond Act.
Who can use the proceeds of this bond act, if it passes?
The bond proceeds will be available to 49 public and private institutions in New Jersey, with $150 million earmarked for community colleges, $300 million for large public research universities, $250 million for state colleges and $50 million for private institutions, except for Princeton University (the bond act specifically excludes any institution with an endowment over $1 billion). As a private institution, Rider would be one of the universities that would benefit from this legislation.
How would this help New Jersey college students?
The capital improvements made possible by the Building Our Future investment will better prepare students for a global economy, providing state-of-the-art research, science, and academic buildings. Plus, the act will provide access to higher education to even more of our students, creating better incomes for our families.
If passed, will the bond act create jobs?
Absolutely. One study found that the Building Our Future investment would create 9,834 direct and indirect jobs annually. That means annual employment compensation of more than $549 million for New Jersey families.
What are the benefits to the state’s economy?
A study showed that the Building Our Future bond act will mean more than a $715 million increase in New Jersey’s GDP annually, and investment would provide millions in new state tax revenue annually.
What long-term impacts will have on New Jersey?
The long-term impact of this investment will enable the New Jersey workforce to attract the best companies, providing our state an economy built to last long into the future. It will enable New Jersey institutions to attract the best and brightest from out of state to live, work and raise a family in our state. It will attract additional investments in research, positioning New Jersey to attract the industries driving the economy of the future. And it will provide New Jersey companies the ability to recruit in-state and gain a workforce with the appropriate education needed to maintain competitiveness.