Good morning all!
Let me start by saying, I want to salute the leaders that keep New Jersey in the spotlight. I want you to know that because of you, New Jersey has been and continues to be a premier location for life science companies and other innovative industries.
So much has happened these past five years in the world of life sciences, in New Jersey. In 2013, we announced the formation of the State Council on Innovation. This will allow us to bring higher-education and greater collaboration with our innovation ecosystem. Also, the Angel Investor Tax Credit was created to support emerging qualified biotech and high tech businesses. In this past five years, a total of 217 investments have been approved – injecting more than 76.1 million into NJ based tech companies.
Earlier this year, I had the pleasure to join Bell Labs to honor its 14 Nobel Laureates, who have achieved some amazing things – to just name one, identifying the universe background radiation to measuring images of molecules within living cells.
At this point, I need to mention who is calling New Jersey their home, in the life science industry. We have 14 of the 20 largest biopharmaceutical companies head-quartered here in New Jersey, more than 3,100 life science and biopharma establishments, 63 colleges and universities, 4 medical school and 13 teaching hospitals. New Jersey is also the home to the world’s highest concentration of scientists and engineers per square mile-more than 225,000 total.
Lastly, I would like to make it clear what the future holds for NJ and life sciences. We all need to work together to advocate for an agreement that continues to encourage companies to innovate and develop pipeline. We need to continue to be a leader in the game with changing ideas and eliminate red tape and other obstacles. Our young people, both men and women, must be engaged in the STEM fields, so that the legacy does not end here. We must improve our technical and higher education systems so that our students have access to the programs and opportunities that will prepare them for the careers of the future. We know New Jersey is a friendly place for innovative companies that will keep New Jersey on the front lines of research and invention.
We must remember, it’s the golden age of innovation here in New Jersey – it’s our responsibility to continue the growth and development in the life sciences industry. It will allow our students, future scientists, and engineers feed their hunger and craving for innovation and success in New Jersey.