On May 11, 2017, the Baker-Polito Administration released its FY2018 capital plan.
Link to the FY18 Capital Budget
Link to Press Release
The state's $2.26 billion fiscal year 2018 capital plan focuses on maintaining and modernizing government assets around Massachusetts and will lead to more than $4 billion in investments beginning July 1, Gov. Charlie Baker said on May 11 at an event at the Chelea Soldiers Home. The plan boosts capital spending by $70 million over the fiscal 2017 plan, and will lead to more than $4 billion in investments when paired with federal, local and private funding sources. Over the years, the Legislature has authorized capital spending that far exceeds the state's borrowing capacity, leaving governors and their advisers with significant power to decide which projects move forward and when.
The capital plan includes additional investments to maintain and modernize state assets and targeted funds for future growth. The plan will be funded with $2.26 billion of General Obligation Bonds.
The FY18 plan continues to make investments in housing, higher education, transportation infrastructure and information technology upgrades. Funding is also included for grants that promote economic development, enhance workforce skills, create affordable housing opportunities, support critical environmental infrastructure and assist the Commonwealth’s cities and towns.
The $2.26 billion bond cap represents a $70 million (3.2%) increase over FY17, which is in line with the recommendations of the Debt Affordability Committee. The total capital investment for FY18, after accounting for non-bond cap funding sources, will total over $4.3 billion.
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