Rutgers study PSEG transmission program will create thousands of jobs a year, millions in revenue for state, towns

PSE&G released Wednesday a study conducted by Rutgers University that focused on the energy company’s $8.1 billion transmission investment program from 2011 to 2021. The program is projected to add 6,000 jobs annually over its 10-year duration, generating more than $4.3 billion in salary and benefits and more than $640 million in revenue for the…Joseph Seneca, professor at the Edward J. Bloustein School of Planning and Public Policy and co-author of the study, called the program a “significant and sustained” investment at a Wednesday event.

“The ongoing and lasting benefits of reliability, safety and service from the work that is being done on them and the services it will provide, those benefits will occur year after year long after the projects are completed,” he said. “They will enhance the quality and safety of life in New Jersey and they will improve the competitiveness of New Jersey’s business environment for its private sector.”

Seneca also noted that, despite recent trends of job growth, New Jersey still has 91,600 fewer private sector jobs than in December 2007, prior to the economic recession.

State Senate President Stephen Sweeney (D-West Deptford) spoke to the importance of infrastructure, especially after Hurricane Sandy.

“New Jersey got a wakeup call when Sandy hit us,” he said. “What we realized is the state that I grew up in isn’t the same state that we live in today. The environment and the climate has changed. We were relying on technology for the New Jersey I lived in and not the New Jersey we live in now.”

As such, Sweeney expressed a great sense of urgency.

“We need to fix this and we need to fix this right away,” he said

ALSO ON NJBIZ:

New name at No. 1 in NJBIZ Top 100 privately held companies

Meadowlands lawmakers call for action on North Jersey casinos

Facing imminent casino closings, Atlantic City officials stress transformation