Date: 05/05/2022
  • Charles D. Baker, Governor
  • Karyn E. Polito, Lieutenant Governor

The Baker-Polito Administration is pleased to release its eighth Capital Investment Plan (“capital plan”), which provides $2.78 billion for the Commonwealth’s capital needs in Fiscal Year 2023 (FY23) and charts a pathway into the future, laying out a blueprint for more than $13.9 billion in total state bond cap spending over the next five years.

With an increase of $125 million (4.7%) above the FY22 plan, the FY23 capital budget aligns with the Debt Affordability Committee’s recommendation while expanding investment across all areas of government to maximize impact.

Improving transportation systems remains a priority of the Administration, and this plan significantly increases state funding to capitalize on once-in-a-lifetime federal funds provided through the Bipartisan Infrastructure Law (BIL) and fully leverage opportunities to capture additional federal funding for highway and bridge work. A total of $1.1 billion for transportation in FY23 will enable these efforts while sustaining a wide range of other investments that will help ensure safe and reliable transportation across the state. These investments complement funding included in the Administration’s MassTRAC legislation, a $9.7 billion bond bill that will advance and support significant investments in the Commonwealth’s transportation and environmental infrastructure, as well as provide critical and required state matching funds to compete for, unlock, and leverage federal formula and discretionary investments provided by the BIL.

This capital plan also continues investing in Massachusetts’ economic recovery in the wake of the COVID-19 pandemic. Investments included in the plan align with the recently filed FORWARD legislation and complement more than $2 billion allocated or proposed from the federal American Rescue Plan Act (ARPA), including funds for downtown recovery and support for small businesses, workforce development, and housing production, as well as for transportation infrastructure, technology, and environmental and resiliency initiatives.

Continuing efforts to protect the Commonwealth’s natural environment, the plan supports investments in climate resiliency measures, food security, and public outdoor spaces. It also provides substantial new funding for building infrastructure projects across the higher education system, and maintains investments for information technology and cybersecurity upgrades, public safety, and health and human services.

Our fiscally responsible capital plan is made possible by strong collaboration with key stakeholders throughout state government. We look forward to the impacts the projects included in this plan will have on the residents of Massachusetts for years to come.

Sincerely,

Lieutenant Governor