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Learn about New Jersey Infrastructure Bank, including Featured News, Key Projects, and Leadership Team.

Bond Series Outstanding
39
Bond Ratings
Aaa/AAA/AAA
Debt Obligations Outstanding
$967 million

About New Jersey Infrastructure Bank

This Investor Relations site is intended to provide current and potential investors broad information about the financing programs and related public bond issues administered by the New Jersey Infrastructure Bank (I-Bank).  We welcome your interest in our programs. Please direct any specific questions or feedback to the contact information located at the top, right corner of this site.

The I-Bank is an independent State Financing Authority responsible for providing and administering low-interest rate loans to qualified municipalities, counties, regional authorities and water purveyors in New Jersey (NJ) for the purpose of financing local transportation and water-quality related infrastructure projects under two separate financing Programs: the NJ Transportation Bank and the NJ Water Bank. The I-Bank partners with the NJ Department of Environmental Protection (NJDEP) to administer the NJ Water Bank and partners with the NJ Department of Transportation (NJDOT) to administer the NJ Transportation Bank. The I-Bank’s mission is to finance projects that enhance ground and surface water resources, ensure the safety of drinking water supplies, protect the public health, reduce roadway congestion, improve highway safety and contribute to New Jersey’s role as a critical channel for commerce. The benefits of investing in infrastructure include stimulating the economy and reducing environmental and health impacts, while enhancing the quality of life within the participating communities.

Key Projects

Updated Camden County MUA Wastewater Treatment Plant Upgrades

NJ I-Bank Project of the Week: Camden County MUA Wastewater Treatment Plant Upgrades. Authority receives $71,993,594 in Water Bank loans. Estimated savings to ratepayers of $29,394,574.

The Camden County Municipal Utilities Authority The Camden County Municipal Utilities Authority (CCMUA) recently completed clean water improvements that are being funded with approximately $72.0 million in loans from the NJ Water Bank, a joint low-rate funding program of the DEP and the NJ I-Bank. This project qualified for principal forgiveness totaling $13,543,349 as it improved resiliency. Including interest cost savings, total savings for the project is estimated to be $29.4 million over the 30-year term of the loan or 41% of the total project cost. In addition, this project created an estimated 862 direct construction jobs. 

The project consisted of upgrades to the Anaerobic Digester and the Combined Heat and Power Facility to enhance wastewater treatment performance, improve resiliency and reduce the plant’s carbon footprint. The most significant component of the project was the construction of a sludge digester which reduces sludge output by approximately 50%, minimizes odor potential and creates enough biogas to generate approximately 50% of the electricity needed to power the plant. 

Commissioner Jefferey Nash, of the Camden County Board of Commissioners commended the CCMUA for its dedication to the community and the environment. “This project minimizes adverse impacts from the plant’s effluent on the Delaware River, reduces its carbon footprint and improves resiliency. Moreover, the CCMUA’s strategic financing with the NJ Water Bank saved its ratepayers a substantial 41% of the total project costs over time.”

This project was designed and managed by D&B/Guarino Engineers, LLC. The Anaerobic Digester was constructed by Northeast Remsco Construction, Inc. The Combined Heat and Power Facility was constructed by Camden Bioenergy, LLC.

Picture courtesy of D&B/Guarino Engineers, LLC

Published 9/8/2021 and updated 9/9/21

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Gloucester City Combined Sewer Main Replacement

NJ I-Bank Project of the Week: Gloucester City Combined Sewer Main Replacement. Authority Receives $889,164 in Water Bank Loans. Estimated Savings to ratepayers of $182,062.

Gloucester City recently completed clean water improvements that are being funded with $889,164 in loans from the NJ Water Bank, a joint low-rate funding program of the DEP and the NJ I-Bank. Including interest cost savings, total savings for this project is estimated to be $182,062 over the 20-year term of the loan or 20% of the total project cost. In addition, this project created an estimated 11 direct construction jobs. 

The project consisted of the removal of approximately 1,600 linear feet of aged brick combined sewer mains within the roadways on Brown and Paul Streets. Both sewer mains were replaced with new 15-inch diameter gravity PVC combined sewer mains and associated appurtenances. 

“We remain committed to investing in our utility infrastructure,” said Patrick Keating, Mayor of Gloucester City. “The replacement of these aging sewer mains is essential to public health, quality of life and economic growth in our community. Borrowing from the NJ Water Bank results in savings that we pass on to our ratepayers, contributing to the overall sustainability and economic vitality of the city.”

This project was designed by Remington & Vernick Engineers and constructed by Perna Finnigan, Inc.

Photo courtesy of Gloucester City.

Published 8/26/2021

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Salem County IA Landfill Expansion

The Salem County Improvement Authority (SCIA) recently completed clean water improvements at its landfill that are being funded with approximately $7 million in loans from the NJ Water Bank, a joint low-rate funding program of the DEP and the NJ I-Bank. Including interest cost savings, total savings for this project is estimated to be $703,729, over the 20-year term of the loan or 11% of the total project cost. In addition, this project created an estimated 79 direct construction jobs.

The landfill cell construction provided environmentally sound disposal of Salem County's solid waste in compliance with County and State solid waste management policies and regulations. The landfill cell included a double-composite liner system designed and constructed in accordance with NJDEP regulations and the SCIA solid waste facility permit to protect ground and surface water quality. The project includes an approximately eight-acre landfill cell, which is one phase of a 31-acre landfill expansion.

Benjamin H. Laury, Salem County Commissioner Director, stressed the importance of the project. “Our Improvement Authority is committed to environmental and financial responsibility. Expanding our landfill and protecting water quality has been an ongoing goal, and the NJ Water Bank has saved our ratepayers money every step of the way.”

This project was designed by the Alaimo Group and constructed by Wyndham Construction LLC.

Picture courtesy of the Alaimo Group.

Published 8/10/2021

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Little Silver Sidewalks Phase 2

The Borough of Little Silver recently closed on a $2,518,496 construction loan with the NJ Transportation Bank to complete Phase II of its sidewalk project. This project will create a continuous network of sidewalks throughout the borough, providing safe pedestrian passage to three schools and to the NJ Transit train station. The Project is expected to create 30 direct construction jobs. 

Robert Neff, Mayor of Little Silver, stated “Borrowing from the Transportation Bank has been an efficient and cost-effective endeavor that is providing necessary pedestrian safety measures for all members of our community.”

This project was designed and managed by Leon S. Avakian Inc. and constructed by A. Takton Concrete Corp.

Published 7/29/2021

Picture Courtesy of Leon S. Avakian

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Leadership Team

David E. Zimmer, CFA

Executive Director

(609) 219-8600

investorrelations@njib.gov

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Judith Karp, Esq.

Assistant Director & Chief Legal and Compliance Officer

(609) 219-8613

jkarp@njib.gov

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Lauren Kaltman

Chief Financial Officer

(609) 219-8607

lskaltman@njib.gov

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Leigh Peterson

Chief Operating Officer, Water Program

(609) 219-6581

lpeterson@njib.gov

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Robert Fernandez

Chief Operating Officer, Transportation Program

(609) 219-8605

rfernandez@njib.gov

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COO, Transportation
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