tax revenue

Offshore wind has the potential to contribute to the state’s decarbonization goals while generating approximately 20,000 new jobs for the state by 2030, but exactly how these economic benefits will be distributed remains to be seen

Adjusted appropriations for FY 2024 are nearly $1 billion higher than in the original budget, while FY 2024 revenues are projected to be about $500 million lower. As a result, the current projection would see the budget surplus drop from $10.7 billion at the outset of FY 2024 to $6.1 billion at the end of FY 2025.