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U.S. State3rd State • December 18, 1787
New Jersey NJ
"The Garden State"
Where the transistor was invented, where Washington turned the Revolution around, and where 9.3 million people live in one of the most densely packed, economically powerful, and stubbornly distinctive states in America.
New Jersey state finances at a glance
State Debt - FY2024
$57.2 billion
Total state government debt outstanding at the close of fiscal 2024, including long-term bonds and short-term borrowing across state agencies and public universities.
Tax Revenue - FY2024
$50.6 billion
Total New Jersey state tax collections in fiscal 2024, led by the individual income tax ($19B) and the general sales tax ($14B).
Borrowing
New Jersey voters must approve general obligation debt, so most of the state's borrowing is appropriation-backed debt issued by authorities such as the Economic Development Authority and subject to annual budget appropriations. These bonds are sold to investors in the municipal market, and New Jersey's debt load is among the highest per resident. The state reported about $2.3 billion in interest on its debt in fiscal 2024.
Source: U.S. Census Bureau, 2024 Annual Survey of State Government Finances.
9.3M
Population
3rd
State (1787)
#1
Most Dense State
1947
Transistor Invented