Life Sciences

A GLOBAL HUB FOR LIFE SCIENCES

Why is New Jersey recognized as an undisputed leader in life sciences? Start by looking at the numbers.

With more than 3,280 facilities operating across all sectors, the New Jersey life sciences industry directly employs over 117,260 people, with an estimated annual contribution to New Jersey’s economy of $47.5 billion – that’s 86% higher than the national average.

Home to the headquarters or major facilities of 12 of the top 20 biopharmaceutical companies in the world, New Jersey’s life sciences ecosystem includes robust biopharmaceutical and medical technology sectors. It also includes world-class universities and research institutions and some of the best research and teaching hospitals in the country, including Hackensack University Medical Center.

What’s more, New Jersey’s economy is 89% more concentrated in the biosciences than the national average and is the only state where this high degree of specialization spans four of the five major industry subsectors—drugs and pharmaceuticals; research, testing, and medical labs; bioscience-related distribution; and medical devices.

HIGHLY EDUCATED, HIGHLY SKILLED

New Jersey has a highly educated workforce that makes it easy for companies to recruit top talent. In fact, many pharmaceutical and biotech companies choose New Jersey specifically for its concentration of specialized talent in the areas of R&D and commercialization – the highest concentration in the country. In addition to the State’s experienced workforce, a steady stream of brilliant students graduate from elite higher education institutions in New Jersey each year and join that talent pool. Six of those universities, including top-ranked Princeton, offer additional graduate and post-graduate degrees in the biomedical and healthcare fields.

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Scientists & Engineers

The world’s highest concentraion

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STATE FOR

Employed Biochemists and Biophysicists

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LIFE SCIENCES GRADUATES

annually

AN ECOSYSTEM FOR DISCOVERY

New Jersey’s rich legacy of discovery has never stopped. In 2017, 23 new FDA drug approvals came from companies with a New Jersey footprint, that’s 50% of all FDA drug approvals. Of the top 22 R&D companies, 12 are located here.

Princeton University and Rutgers, the State University of New Jersey – ranked among the nation’s top research institutions – have a long history of supporting the research needs of the private sector. Rutgers’ RUCDR Infinite Biologics, for example, the world’s largest university-based cell and DNA repository, collaborates with researchers in the public and private sectors throughout the world.

The research conducted by our universities is complemented by research underway at New Jersey’s 13 teaching hospitals and 4 medical schools. The concentration of hospitals, medical schools and universities, combined with the State’s population density, multicultural diversity and outstanding transportation infrastructure, makes the State a prime location for clinical trials.

In fact, there are currently 2,300 open and active trials underway, ranging from initial studies in humans to the management of large multi-center trials. In the growing field of translational research, programs are underway at the Hackensack University Medical Center’s John Theurer Cancer Center, the Cancer Institute of New Jersey, the Rutgers New Jersey Medical School, the Pediatric Clinical Research Center and the Human Genetics Institute of New Jersey.

New Jersey is a place with very rich talent base, it’s a good place to live... But more importantly, it’s a place where you can support entrepreneurial activity, especially in the biopharma area."

Jay Tischfield
CEO and Scientific Director, RUCDR Infinite Biologics

ACCESS TO FINANCIAL & REGULATORY CENTERS

Looking to access capital, regulators or partnering opportunities? New Jersey is your answer.

Situated in the heart of the U.S. Northeast Corridor, New Jersey life sciences companies have strategic access to local and global financial markets and regulatory centers.

Northern New Jersey is just across the river from Wall Street – an easy train or ferry away to the heart of U.S. financial institutions. The regulatory centers of Washington D.C. are less than a 4-hour drive or train ride away.

Rather fly? Daily non-stop flights to more than 130 international destinations and 110 U.S. cities are offered at Newark Liberty International Airport and other nearby airports, providing unsurpassed access to cities around the world.

Life science businesses that settle in the State also benefit from New Jersey’s high concentration of biopharmaceutical companies, research centers and universities, which increases the potential for partnering. Perhaps that’s why our biotech community has grown by more than 400% in less than 2 decades and Business Facilities ranked us the #1 state for biotech growth potential in 2015.

INCENTIVES TO SUPPORT GROWTH

New Jersey offers a number of attractive incentives for qualified life sciences companies, including
incentives specifically created to support start-up and early stage ventures.

Grow New Jersey Assistance Program


Companies may qualify for fully-transferable tax credits by creating as few as 25 full-time jobs (10 for new technology startups).

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Technology Business Tax Certificate Transfer Program (NOL)


This incentive gives biotech companies the ability to sell their net operating tax losses and R&D tax credits.

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Founders & Funders


Emerging life sciences companies can gain access to angel and venture capital investors.

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Angel Investor Tax Credit Program


Provides refundable tax credits against New Jersey corporation business or gross income tax.

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NJ CoVest Fund


Provides growth capital to early-stage technology and life sciences companies.

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TOP NEW JERSEY
PHARMACEUTICAL COMPANIES

wdt_ID Company
1 Allergan
2 Bayer Healthcare
3 Bristol-Myers Squibb
4 Celgene
5 Eli Lilly
6 GlaxoSmithKline
7 Johnson & Johnson
8 Merck
9 Novartis
10 Novo Nordisk

Source: Pharmaceutical Executive, 2018

Resources

Life Sciences Industry Brochure


BioNJ 2014 Industry Study


Research Universities


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TEConomy/BIO Report 2016


Life Sciences Relocations and Expansions


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New Jersey LWD – Life Sciences


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WHAT CAN CHOOSE New Jersey DO FOR YOU

Relocation & Expansion Services

We provide customized RFI responses, demographics, detailed market assessments and other complimentary business relocation and expansion services. When your company chooses to grow in New Jersey, we also will help you publicize your good news.

Site Visits

We’ll make your property search seamless, so you find the site that best meets your relocation or expansion needs.

Economic Development Connections

Our public and private partners provide a wide range of services. From higher education research collaboration to regulatory and legal assistance to workforce training, they’ll ensure you have a smooth landing.

Catherine Scangarella
Chief Strategy Officer, Sector Lead: Life Sciences