BOSTON – Governor Deval Patrick Monday unveiled a five-year capital investment proposal that aims to spend $12 billion on higher education facilities, road and bridge repairs, transportation projects and housing.
In a statement, Patrick said that the plan will include a 186-percent increase in state funding in higher-education investments, with the state’s colleges receiving $750 million over five years for capital improvements.
More than $1.1 billion is budgeted for the state’s transportation for fiscal year 2008, which includes $613 million for statewide road and bridge repair projects, the statement said. The five-year total for transportation is expected to be $5.72 billion.
The plan also looks to meet some of the needs the state’s residents are facing in the affordable housing arena. The plan includes the $90 million for public housing in FY08 that had already been budgeted. That figure represents an increase of $30 million from FY07.
“We are committed to restoring our Commonwealth’s assets and to ensuring the long-term health, safety and prosperity of our citizens,” Patrick said in the statement. “Today we start reversing decades of neglect of our public colleges and universities, our roads and bridges. And we move closer to creating quality, well-paying jobs so that Massachusetts can remain competitive in our global economy.”
