Facebook Twitter LinkedIn Google Plus RSS

NJ Transportation Infrastructure Bank opens

By ,

The New Jersey Transportation Infrastructure Bank opened Friday, offering low-interest loans to municipalities and counties to reduce the cost of local transportation projects.

The NJTIB is a partnership between the New Jersey Department of Transportation and the New Jersey Infrastructure Bank.

The NJDOT’s Local Aid Infrastructure Fund provided the NJTIB with $22.6 million generated from the gas tax increase. Interest rates in fiscal year 2019 are anticipated to be between 1.5 percent and 1.75 percent for terms of up to 31 years.

More From This Industry

David Hutter

David Hutter

David Hutter grew up in Darien, Conn., and covers higher education, transportation and manufacturing for NJBIZ. He can be reached at dhutter@njbiz.com.

Leave a Comment


Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
View Comment Policy