- Charles D. Baker, Governor
- Karyn E. Polito, Lieutenant Governor
June 6, 2019
Today our Administration releases its fifth Capital Investment Plan (“capital plan”), providing a $2.43 billion investment for the Commonwealth’s capital needs in Fiscal Year 2020 (“FY20”).
The FY20 capital plan includes a $90 million increase, or 3.8% over Fiscal Year 2019 (“FY19”), in line with the recommendations of the Debt Affordability Committee. The capital plan leverages substantial federal, local, private, and other sources of funding, maximizing the impact of the Commonwealth’s capital investments.
Since 2015, the Baker-Polito Administration has taken a strategic and affordable approach to investing in the Commonwealth, by maintaining and modernizing our existing assets and making targeted investments for the future, while holding spending to a responsible and affordable level. The FY20 plan rests on this same foundation, and reflects the same major themes of previous plans, while expanding the Administration’s commitment to responsible capital investing in the era of climate change.
Last year’s plan fully integrated climate change preparedness and resiliency into the capital investing program. The FY20 plan continues that work, by once again considering the potential environmental impact of all capital investments as well as evaluating their resilience to climate change. In FY20, the plan also includes an additional $75 million of investments funded through the Global Warming Solutions Trust Fund, an Administration proposal that is currently pending before the Legislature. If the proposal becomes law it would represent an historic annual investment in climate preparedness and resiliency of more than $130 million, ensuring the Commonwealth’s continued progress toward a more sustainable future.
Since taking office the Administration has increased the total level of investment in the Commonwealth’s transportation system, and the FY20 plan funds important transportation investments focused on improving asset condition, increasing reliability, and supporting targeted expansion projects.
The FY20 capital plan also continues our Administration’s strong partnership with local communities, funding more than 20 grant programs that help cities and towns invest in critical local infrastructure. The plan makes significant investments in housing, health and human services, higher education, and information technology upgrades. It also provides funding for various grant programs that promote economic development and enhance high-demand workforce skills throughout the Commonwealth.
As we plan our infrastructure investments we remain mindful of our duty to be responsible stewards of the Commonwealth’s assets, as well as the taxpayers’ resources.
This plan is the product of collaborative work across state government, and we look forward to continuing these important relationships as we implement it.