Jones Lang LaSalle
New Jersey Touted as One of Next Biotech Hot Spots
Trenton, NJ (January 25, 2006)—A report released today by FierceBiotech singled out New Jersey as one of five regions in the United States and abroad destined for major geographic growth in biotech. The other four regions include California, Maryland and the I-270 Tech Corridor, Singapore Biopolis and Wisconsin.
New Jersey is the 4th largest biotech center in the nation, with over 130 biotech companies employing more than 8,000 people and generating over $2 billion in revenue.
"This is great news for New Jersey," said Commerce Secretary Virginia Bauer. "Being named one of the five 'hot areas' for biotech clearly demonstrates that New Jersey continues to be a dominant force in technological competitiveness. This continued growth is vital to sustaining our competitive advantage and the State’s larger overall economic prosperity."
New Jersey is home to 15 of the world’s 25-largest drug companies, and nearly half of the nation’s $30 billion in private health research occurs in the Garden State. New Jersey companies also lead the nation in new drugs and biologics approved by the FDA in 2003.
"New Jersey is truly the perfect location for emerging companies and research initiatives, as the growing number of biotech companies located here have already realized," said Debbie Hart, president of Biotechnology Council of New Jersey. "With strong and creative government backing and support, close proximity to some of the nation's finest educational and research institutions, and access to the world's top pharmaceutical companies, New Jersey is poised to realize its full potential as an important location for biotechnology and life sciences."
FierceBiotech, an internationally recognized email newsletter for the biotech industry, evaluated dozens of domestic and international initiatives to identify the five regions that are best-positioned to become hotbeds of biotech innovation.
New Jersey Touted as One of Next Biotech Hot Spots
Trenton, NJ (January 25, 2006)—A report released today by FierceBiotech singled out New Jersey as one of five regions in the United States and abroad destined for major geographic growth in biotech. The other four regions include California, Maryland and the I-270 Tech Corridor, Singapore Biopolis and Wisconsin.
New Jersey is the 4th largest biotech center in the nation, with over 130 biotech companies employing more than 8,000 people and generating over $2 billion in revenue.
"This is great news for New Jersey," said Commerce Secretary Virginia Bauer. "Being named one of the five 'hot areas' for biotech clearly demonstrates that New Jersey continues to be a dominant force in technological competitiveness. This continued growth is vital to sustaining our competitive advantage and the State’s larger overall economic prosperity."
New Jersey is home to 15 of the world’s 25-largest drug companies, and nearly half of the nation’s $30 billion in private health research occurs in the Garden State. New Jersey companies also lead the nation in new drugs and biologics approved by the FDA in 2003.
"New Jersey is truly the perfect location for emerging companies and research initiatives, as the growing number of biotech companies located here have already realized," said Debbie Hart, president of Biotechnology Council of New Jersey. "With strong and creative government backing and support, close proximity to some of the nation's finest educational and research institutions, and access to the world's top pharmaceutical companies, New Jersey is poised to realize its full potential as an important location for biotechnology and life sciences."
FierceBiotech, an internationally recognized email newsletter for the biotech industry, evaluated dozens of domestic and international initiatives to identify the five regions that are best-positioned to become hotbeds of biotech innovation.
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