New Jersey has been known as “The Medicine Chest of the World” for well over a century. The nickname dates back to the late 19th and early 20th centuries, when major pharmaceutical and medical companies began establishing roots in the state – with one of the earliest and most influential examples being Johnson & Johnson, which opened its factory in New Brunswick in 1886, helping to spark a unique combination of industry concentration, innovation, and global influence in medicine.
Today, the industry is experiencing palpable momentum, as life sciences and biopharmaceutical companies choose to locate in and expand existing facilities in the state at an exciting rate.
“This latest influx reflects the growing attractiveness of our innovation ecosystem, which former Gov. Phil Murphy has worked to improve over the past eight years,” says Chrissy Buteas, president and CEO of the HealthCare Institute of New Jersey (HINJ).
She cites an unparalleled concentration of life sciences talent, world-class research institutions, strong education systems, and a deep bench of experienced companies – large and small – as factors behind the industry’s continued growth in the state.
“Add to that the proximity to major markets, robust infrastructure, one of the most highly skilled workforces in the world, and a growing network of innovation hubs and specialized manufacturing capabilities, and New Jersey presents a compelling environment for companies looking to grow,” Buteas adds.
Debbie Hart, president and CEO of BioNJ, points to long-established companies such as Insmed (Bridgewater), Genmab (Plainsboro) and Ascendis Pharma (Princeton) having come into their own over the past few years, expanding their respective footprints in New Jersey, while state government investments in innovative programs and incentives have also fueled newly formed companies such as NanoNewron (Union) and VITRUVIAE (Nutley).
“Combined with the successful business-attraction efforts of Choose New Jersey bringing companies such as Enzene (Pennington) and Biocon Biologics (Bridgewater) here, the state has seen an unprecedented uptick in ribbon cuttings and groundbreakings,” Hart says.
According to BioNJ, New Jersey is the nation’s second-largest biopharma hub, powered by a GDP of $121 billion representing 7.8% of the state’s economy, more than double the US average.
“Consider Enzene Biosciences, which opened its first US biopharmaceutical manufacturing facility late last year in Hopewell and expects to create 200-300 highly skilled jobs as it scales,” Hart says. “Likewise, Genmab has undertaken two major expansions at the Princeton Forrestal Innovation Center over the past five years and has committed to adding more than 300 jobs in Middlesex County. Together, these investments underscore the powerful, long-term impact the industry’s continued growth is having across the state.”
“[The locations and expansions we are seeing] deliver broad and durable economic benefits to local communities,” Buteas says. “These firms create high-paying jobs across a wide range of skill levels while also supporting secondary employment in construction, professional services, logistics, and advanced manufacturing.”
She adds that new facilities also often catalyze redevelopment, infrastructure investment, and increased demand for housing and commercial real estate. “Importantly, life sciences growth tends to be resilient and long-term, anchoring regional economies and contributing to stable tax bases and community vitality,” Buteas says.
New Jersey’s talent pipeline remains one of its strongest competitive advantages, supported by its leading universities, community colleges, and research institutions. Both Buteas and Hart cite NJ BioFutures – a collaboration between industry and community colleges – as an example of an initiative that provides hands-on, industry-aligned training and certifications, preparing students and workers for both entry-level and specialized roles.
“At the same time, demand is evolving rapidly, particularly in areas like biomanufacturing, data science, and advanced therapies,” Buteas says. “Continued alignment between industry and education will be essential to ensure the workforce keeps pace with innovation.”
“New Jersey’s Strategic Innovation Centers (SICs) are further advancing life sciences workforce growth by creating hubs for collaboration and fostering partnerships between academia and industry to cultivate local talent and high-growth jobs,” Hart adds.
Other key initiatives include the Central Jersey Life Sciences Industry Partnership, which builds career pathways and training programs; and the New Jersey’s Grants to Grow Apprenticeship program, which expands on-the-job learning, enabling companies to train employees in real-world settings while lowering workforce-development costs.
It is clear that New Jersey has all the ingredients to continue to thrive as a biopharmaceutical hub. Himanshu Gadgil, CEO of Pennington-based Enzene Biosciences, noted after a nationwide search that New Jersey became “an automatic choice” thanks to the strong partnership and support the company received, while Charlie Oyler of Hopewell-based BeOne Medicines echoed this sentiment, calling New Jersey home to “the best biopharma talent, research, development and manufacturing anywhere in the world.”
However, for the state to reach its full potential as a global biopharma powerhouse over the long-term, a more concerted effort to make the state more business-friendly, seems imperative.
“The business climate is problematic,” says Buteas. “New Jersey has the highest corporate tax rate in the US, and is [hampered by] the years-long delays in permitting to get shovels in the ground to build a new, cutting-edge facility. Those issues are causing companies to look elsewhere when they move or expand operations.
“In a highly competitive regional and global market, companies have options. And other states and other countries know it,” she continues. “Not a day goes by without some other state coming and talking to New Jersey companies, trying to lure them away.” Hart adds that a thriving life sciences sector depends on continued investment, competitive incentives and workforce programs that lower the cost of doing business while keeping the state globally competitive.
“I think at the end of the day, companies want to be here in New Jersey,” Buteas concludes. “We have everything they need or want to be successful in discovering new treatments and cures, but we need to work harder as a state to make it at least a little more competitive in terms of the business climate here. If that were to improve in two or three key areas, our innovation ecosystem – and our state’s economy – would take off like a rocket ship.”
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