New Jersey Assembly Bill A1761

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

"Invest in New Jersey First Act;" requires preference in awarding certain contracts for critical infrastructure projects.

Impact

If passed, A1761 would amend existing public contract law to require state departments and agencies to prioritize hiring New Jersey-based firms that employ New Jersey residents for state-funded critical infrastructure undertakings. This is a response to a recognized economic emergency in the state, wherein state leaders believe that such a measure is needed to ignite job creation and economic revival. The Department of the Treasury will play a crucial role in regulating and identifying which businesses qualify under the stipulations of the bill.

Summary

Assembly Bill A1761, known as the 'Invest in New Jersey First Act,' is designed to provide a preference for awarding certain contracts focused on critical infrastructure projects to qualified businesses located within New Jersey. These projects include transportation, sewerage, water supply, and other building projects. The intent of the bill is to stimulate the state’s economy by increasing employment during economic downturns and ensuring that state funds are utilized to support local businesses and residents.

Contention

While proponents argue that the bill is essential for economic recovery, criticisms may arise regarding the potential limitations it imposes on diversity in vendor choice and possible challenges in implementing the preference effectively. Concerns about transparency and fairness in the bidding process could also surface as stakeholders debate the implications of prioritizing local businesses over potentially more qualified or cost-effective out-of-state contractors.