New Jersey Received Over $22 Billion in Federal Funds in FY2024, Marking a 56 Percent Increase from Pre-Pandemic Levels

New Jersey secured an estimated $22.155 billion in federal revenue in FY2024, which supported 609 State-administered programs, according to a first-of-its-kind report released by the state’s Grants Management Office (GMO).

Federal funds awarded to New Jersey were down slightly from the prior year due to the expiration of some COVID funding programs, however funding was still 56 percent higher in FY2024 than in FY2019, the last fiscal year before the COVID-19 pandemic. This increase is a testament to the proactive efforts of New Jersey’s agencies to pursue new federal funding opportunities.

NJSEED: New Jersey receives the fourth-lowest return on its tax dollars, or about 75 cents for every dollar paid to Washington, DC.