New York Governor Andrew Cuomo announced a $150 billion infrastructure plan for the next five years at an annual leadership dinner hosted by the Building Trades Employers’ Association (BTEA).
Beginning in FY 2020, new projects will rebuild transportation and mass transit systems, construct safe and secure affordable housing, drive economic and community development, build new and better school buildings for 21st century learning, create new environmental and park facilities, support a sustainable energy future, and generate 675,000 new jobs and expand opportunity for all New Yorkers, according to a statement from the governor’s office.
“After a half century of neglect and inaction, New York is once again building for the future, and our infrastructure investments are already creating hundreds of thousands of jobs,” Gov. Cuomo said in the statement. “This record commitment to infrastructure, which builds on our already thriving $100 billion program, will drive our momentum forward and demonstrates yet again that with vision and ambition, New York is setting an example for the rest of the nation to follow.”
As with the existing $100 billion infrastructure program, the new $150 billion plan will be funded by a combination of state, federal, local government, public authority, and private investment. State debt will remain at affordable levels and within the statutory debt limit.
The new $150 billion infrastructure plan will support the creation of 675,000 jobs.