Washington D.C. - The White House released a budget this week that would substantially reduce federal spending for innovation and entrepreneurship. Regional Innovation Strategies and the entire Economic Development Administration, Manufacturing Extension Partnership, Advanced Research Projects Agency – Energy, Innovative Technology and Advanced Vehicles loan programs, Growth Accelerator Program and Regional Innovation Clusters would all be eliminated. Only in an addendum related to last week’s budget deal does the administration suggest funding workforce and several agencies’ R&D at or near FY 2017 levels. Still, whereas the previous two budgets featured nearly-universal cuts to non-defense initiatives, the FY 2019 budget provides better insights into the administration’s priorities.
Washington D.C. - The IRS and CDFI Fund released their first guidance for the federal Opportunity Zones incentive. This wave of guidance addresses zone selection issues only — the most important clarification is that the certification window will expire on March 21, with the option to request one 30-day extension. The guidance includes a list of all eligible census tracts, which were covered by SSTI last week, as well as a list of tracts that are not low-to-moderate income but may be included in contiguous Qualified Opportunity Zones.
Newark, NJ - The metaphor Tom Gregorio used for the health care information flowing through the state was plumbing. It’s a massive, underground network that’s always being expanded on. And it’s vitally important. It’s just lacking some of the fixtures — the hot-or-cold knobs to twist — that might make it more meaningful for everyday use. But Gregorio, senior executive director of healthcare systems innovation at the New Jersey Innovation Institute, said there’s a project in his organization’s pipeline that may help address that. The New Jersey Innovation Institute, a New Jersey Institute of Technology affiliate that has become the state’s designated entity for advancing health information-related technology, is partnering with the New Jersey Department of Health on new infrastructure involving the state’s patient health information.
Washington D.C. - Life-sciences companies—especially pharmaceutical, biotech, and medical-device companies—have been steadily increasing their U.S. economic output and employment in high-skilled, high-wage jobs. But not all states are equally well positioned to grow and attract these companies. That’s because while life-sciences companies have significant flexibility to conduct their research, clinical trials, and production anywhere in the world, they grow best in locations that can combine qualities like a good business environment, skilled workers, strong research universities, and available capital. Strengthening these and related factors can give states a stronger competitive advantage. At least 27 states have specific life-sciences-focused economic development efforts. This report examines how five—Colorado, Indiana, New Jersey, North Carolina, and Washington—are working to create environments that support the growth of their life-sciences sectors.
Trenton, NJ - The New Jersey Biotechnology Task Force heard testimony from representatives in both academia and industry to help define the challenges and opportunities in building a first-class innovation economy in New Jersey. The Task Force was established pursuant to P.L. 2016, Joint Resolution No. 5, to develop policy recommendations to retain and attract new biotechnology companies to New Jersey and encourage greater collaboration between industry and academia.
Trenton, NJ - The New Jersey Manufacturing Extension Program (NJMEP) has received two New Jersey Talent Networks from The New Jersey Department of Labor and Workforce Development (LWD): Advanced Manufacturing Talent Network, and Transportation, Logistics, and Distribution Talent Network. Talent Networks have significantly contributed to New Jersey’s economic growth throughout the years. Working directly with employers to develop partnerships, talent networks leverage opportunities to cultivate a pipeline of talent aligned with the needs of their targeted industries. As a result, talent networks promote the state’s highly-skilled workforce with education and occupational training through the creation of apprenticeships and other career pathways into those specific sectors identified in the grant opportunity.
Newark, NJ - The Hackensack Meridian–Seton Hall University medical school is open for enrollment. The school received its accreditation late Wednesday night from the Liaison Committee on Medical Education, ROI-NJ has learned. It’s the latest step, and one of the most important ones, for the school, which will be the first private medical school in the state. With the accreditation, a source said the school can now accept applications for its first class. And, despite being behind other med schools, the source said the school is planning on enrolling its first class this fall. The source requested anonymity because they are not authorized to comment on the school.
Trenton, NJ - Advisers tell governor that state’s technology needs major overhaul and Christie’s IT initiative should be urgently reviewed. An app that would let New Jerseyans access state government services easily, a student loan forgiveness program for tech-related careers, and high-speed internet access throughout the state are just part of the future that a gubernatorial transition committee envisions for New Jersey.
Trenton, NJ - Manufacturing has been growing recently in the state, but industry leaders say they’re struggling with high taxes, high costs, a shortage of skilled workers, and they fear a wage hike manufacturing. The New Jersey manufacturing industry cannot find enough skilled labor to fill jobs — which is ironic since the state’s unemployment rate continues to lag the national jobless average. That problem has drawn the attention of state lawmakers, and they’ve formed a bipartisan working group to come up with policies that could help bridge the gap.
WHEN: March 13, 14, 2018
WHERE: Princeton University, Princeton Institute for the Science and Technology of Materials (PRISM)
CONTACT: Joseph Montemarano, PRISM, 609-258-2267
Academic research can provide major returns for regional industry – just ask Steven Abramson.
Abramson is the President and CEO of Universal Display Corporation, a leader in the OLED (organic light emitting diode) market, whose technology is featured in devices from the newest LG 4K televisions to Samsung Galaxy smartphones.
Fast-Growing, High-End Tile Provider Relocates to Burlington County
TRENTON, N.J. (February 12, 2018) – Growing up, Eli Mechlovitz developed an affinity for interior design and mosaics by spending time working in his family’s tile store.
In 2006, at the age of 22, Mechlovitz acted on that passion and founded Soho Studio in his parents’ basement to provide high-quality and cost-effective tile solutions to customers.
As a direct importer and wholesaler, Soho Studio provides its customers with a diverse collection of over one thousand tiles, which have a wide variety of uses, such as backsplashes or flooring in both commercial and residential settings. The business’s initial focus was offering mosaic and “water jet” tiles, for which a high-pressure stream of water is used to cut precise patterns.
ROI-NJ Editorial by Tom Bergeron, 2/16/18
You start with money and leaders. Then you add a willingness for public and private organizations to work together.
It’s the solution to a lot of issues. And it could be the cure for reviving and invigorating New Jersey’s STEM and manufacturing economy.
Weeks into Gov. Phil Murphy’s administration, moves are being made to help revitalized the science and manufacturing sectors in the state.
From New Jersey Business magazine, 2/12/18
Nestled between the busy New York and Philadelphia markets, and astride one of the nation’s most vital transportation corridors, New Jersey’s southernmost counties are taking advantage of regional opportunities and experiencing significant economic development activity, such as revitalized urban centers, an evolving and growing tourism industry, and capital investment in the region’s bustling port facilities.
There’s an unmistakable optimism among business leaders representing various sectors that are both contributing to and benefiting from that growth and expansion. While concerns remain about how to address challenges still confronting the region, a confidence born of increasing cooperation between different stakeholders is palpable from the Delaware River docks and Atlantic City casinos, to revitalizing cities like Camden and Vineland, and the campuses of local colleges and universities.
From The New York Times, 2/15/18
The Food and Drug Administration on Wednesday approved a long-awaited blood test to detect concussions in people and more quickly identify those with possible brain injuries.
The test, called the Banyan Brain Trauma Indicator, is also expected to reduce the number of people exposed to radiation through CT scans, or computed tomography scans, that detect brain tissue damage or intracranial lesions. If the blood test is adopted widely, it could eliminate the need for CT scans in at least a third of those with suspected brain injuries, the agency predicted.
Read more here.
From NJ SPOTLIGHT 2/15/18
The New Jersey manufacturing industry cannot find enough skilled labor to fill jobs — which is ironic since the state’s unemployment rate continues to lag the national jobless average. That problem has drawn the attention of state lawmakers, and they’ve formed a bipartisan working group to come up with policies that could help bridge the gap.
The leaders of the New Jersey manufacturing companies testified to the group yesterday; their companies make everything from basic nuts and bolts to more sophisticated metal components used by medical and aerospace industries. The lawmakers heard concerns ranging from gaps in current workforce-development programs to insufficient marketing of the state’s manufacturing industry as a good career opportunity for high-school graduates.
Do not miss a single innovative moment and sign up for our newsletter!