The Task Force is intended to communicate with the biotechnology industry and develop recommendations for actions that the Legislature and State can take to retain existing companies and attract new ones. BioNJ advocated for this initiative throughout the process.
“BioNJ thanks the New Jersey Senate for its timely action to pass SJR57, the companion bill to AJR46 which the Assembly passed last year,” said Debbie Hart, BioNJ President and CEO.
“We're especially grateful to Senator Robert Singer (R-Monmouth, Ocean) and Senator Robert Gordon (D-Bergen), the primary sponsors of the bill. Senator Singer, a long-time friend to the New Jersey biotechnology industry, also sponsored the resolution for the original Biotechnology Task Force in the 1990s which he then chaired. That Task Force generated numerous strategies which have impacted the incremental growth of this industry over these many years.”
Click here for Senator Singer's press release.
Due to the continued growth and the pivotal role the biotechnology industry continues to play in our State, it was imperative that the bill be advanced as quickly as possible. BioNJ thanks Senate President Steve Sweeney (D-Gloucester) for posting the bill for prompt consideration in the Senate, and Senator Ray Lesniak (D-Union) for posting the bill in the Senate Economic Growth Committee.
AJR46 was sponsored by Assemblymen Gary Schaer (D-Passaic-Bergen), Tim Eustace (D-Bergen-Passaic), Daniel Benson (D-Mercer-Middlesex), Gordon M. Johnson (D-Bergen), and Assemblywoman Nancy Pinkin (D-Middlesex) as primary sponsors, and Assemblymen Reed Gusciora (D-Mercer-Hunterdon), Craig J. Coughlin (D-Middlesex), Herb Conaway, Jr (D-Burlington), John F. McKeon (D-Essex), and Assemblywomen Pamela R. Lampitt (D-Camden-Burlington), Annette Quijano (D-Union), and Mila M. Jasey (D-Essex) as co-sponsors.
New Jersey's biotechnology industry directly provides more than 66,000 jobs and more than $1.5 billion in tax revenue to the State. The industry-wide wages average $137,290.
The nine-member Biotechnology Task Force will be composed of three members of the Senate, three members of the General Assembly, the CEO of the New Jersey Economic Development Authority and two public members appointed by the Governor from a list of nominees provided by BioNJ.
The Task Force will have two years to issue a report to the legislature detailing how the industry can be assisted and advanced.
“This Task Force will identify timely methods for New Jersey to remain a leader in the biotechnology industry,” said Hart. “We applaud this bipartisan effort to strengthen this vital driver of New Jersey's economy.”
BioNJ, The Gateway to Health, is a network of more than 400 Members representing research-based life sciences companies and stakeholders dedicated to propelling a vibrant ecosystem where Science is Supported, Companies are Created, Drugs are Developed and Patients are Paramount.
Because Patients Can’t WaitSM, BioNJ supports its Members in the discovery, development and commercialization of therapies and cures that save and improve lives and lessen the burden of illness and disease to society by driving capital formation, fostering entrepreneurship, advocating for public policies that advance medical innovation, providing access to talent and education and offering a cost-saving array of critical commercial resources.
For more information about BioNJ, please visit www.BioNJ.org.