“The New Jersey Biopharma Industry: A Prescription for Growth” white paper outlines BioNJ’s recommendations for growing the State’s economy by strengthening and supporting the life sciences industry within New Jersey.
BioNJ President and CEO Debbie Hart said, “We very much appreciate these leading organizations that came together to show their support of the New Jersey life sciences industry and its impact on the economy. Our intent in developing these recommendations, which were based on broad and deep data and strategy and thought leadership from our partners at McKinsey & Company as well as widespread input from members of the ecosystem, was to provide a framework upon which to build future policy that will support industry growth. It is our hope that these are recommendations that all policymakers can get behind.”
BioNJ thanks the following organizations for their support of advancing the growth of the life sciences industry in New Jersey and their endorsement of recommendations made in the white paper.
“This report highlights the vital role that biopharmaceutical innovation plays in driving good jobs and economic opportunity in New Jersey,” said Jim Greenwood, president and CEO of the Biotechnology Innovation Organization (BIO). “All across the country we are seeing remarkable advances in science and in our understanding of human biology. The key going forward is ensuring that both state and federal laws are keeping pace with the science, and that short-sighted public policy does not impede medical innovation and its long-term benefits to patients, to our economy and to our society.”
“Hunterdon County is very supportive to the future growth potential of the biopharma industry in New Jersey,” said Chris Phelan, President of the Hunterdon County Chamber of Commerce. “New Jersey has always had a strong history of great innovation in addition to a statewide ecosystem of the biopharmaceutical industry. It is imperative that we collectively support these efforts to grow our economy.”
“The need to support innovation and the opportunity that it represents to New Jersey’s economy is critical,” said James Barrood, President and CEO, New Jersey Tech Council. “It will be the tipping point of New Jersey’s economic future. Recognizing the fact that New Jersey is falling behind other leading ecosystems is the first step in addressing the challenge and seizing the opportunity.”
“We believe these proposals are an excellent way to generate economic growth and create jobs in New Jersey,” said Ralph Albert Thomas, CEO & Executive Director of the NJ Society of CPAs.
“The Somerset County Business Partnership is a strong proponent of BioNJ’s plan to grow New Jersey’s biopharma industry, a cornerstone of our economy,” said Michael Kerwin, President and CEO of Somerset County Business Partnership. “It is time for New Jersey to start playing offense. The plan’s four recommendations will be effective in reestablishing New Jersey’s competitive position as the best place in the world for a biopharma company to find talent, innovate, grow and prosper.”
“CIANJ endorses the recommendations made by BioNJ because we believe they will facilitate the growth of the life sciences industry in the state,” said Anthony Russo, president of the Commerce and Industry Association of New Jersey. “New Jersey needs to become an innovator — with direct government support, the encouragement of investing in innovation, improved education and training opportunities and dedicated marketing we can reach our potential.”
“We have long recognized that the highly innovative businesses like those in the bio-tech industry are critical to the long-term health of New Jersey’s economy. To create an environment where such businesses can thrive and create good jobs, we will need greater cooperation between business, academia and government. The recommendations in this report are a great place to start as the new administration takes office,” Michele Siekerka, president and CEO, the New Jersey Business & Industry Association (NJBIA).
Click here to download a copy of BioNJ’s white paper.
The Hunterdon County Chamber of Commerce, established in 1916, represents over 600 member organizations with over 15,000 employees. The Chamber serves as the advocate for the Business Community and offers a wide array of initiatives centered on economic & workforce development, leadership and business resources. For more information on the Chamber please visit www.hunterdon-chamber.org or call 908-782-7115.