The New Jersey Environmental Infrastructure Trust 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 for the purpose of financing water quality infrastructure projects that enhance ground and surface water resources, ensure the safety of drinking water supplies, protect the public health and make possible responsible and sustainable economic development.
-NJEIT Mission Statement
The New Jersey Environmental Infrastructure Trust is an independent State financing authority. We provide low-cost financing for the construction of environmental infrastructure projects that enhance and protect ground and surface water resources, ensure the safety of drinking water, and facilitate responsible, sustainable economic development.
New Jersey enjoys a national reputation as a leader in innovative and effective environmental protection strategies. The Trust and its Environmental Infrastructure Financing Program have helped the State earn this reputation. Established in 1986, the Trust is the first program of its kind in the country.
New Jersey is rich in water resources. We enjoy abundant rainfall, which contributes to a lot of beautiful streams, rivers and lakes. Our Atlantic coastline provides recreation, helps shape our sense of identity, and makes a significant contribution to the state’s economy.
Yet New Jersey is also home to a great deal of industrial development, as well as some of the most densely populated land areas to be found anywhere in the world. This presents a special challenge as we work to foster growth without allowing the inevitable waste products of a growing state to degrade the quality of our ground and surface waters.
Controlling pollution and providing safe, abundant drinking water requires heavy capital investment. Building environmental infrastructure is expensive and that expense is ultimately borne by ratepayers and taxpayers. Low-interest financing from the Trust has helped keep costs to the public as low as possible.
Working in partnership with the New Jersey Department of Environmental Protection, the Trust has leveraged the funds available from the federal government to make more money available at the lowest possible cost. The Financing Program has provided more than $4.3 billion to local and county government units and some private water companies to finance wastewater systems, combined sewer overflow abatement, nonpoint source pollution control, safe drinking water supplies and open space acquisition.
Thanks to a combination of low interest rates and other cost saving features, the Financing Program has saved New Jersey ratepayers and taxpayers over $1.8 billion.