New Jersey Industry Snapshot

As one of the leading biotechechnology clusters in the nation, and the headquarters for 15 of the world's largest pharmaceutical companies, New Jersey has earned its reputation as "the nation's medicine cabinet." Home to more than 100 biotech companies that employ nearly 8,000 workers, New Jersey boasts the highest concentration of pharmaceutical companies in the nation as well as the highest per capita rate of scientists, engineers, and technicians.

Large pharmaceutical companies benefit from New Jersey's central location in the northeastern economic powerhouse, close proximity to Wall Street and transportation centers, as well as a state government focused on biotechnology-friendly legislation. Among the companies that call New Jersey home are Merck & Co, Inc and Schering-Plough.

Large, well established pharmaceutical companies have always been the cornerstone of New Jersey's biotechnology industry, but the business climate is changing with the arrival of smaller, emerging-growth companies that have a unique set of needs. New Jersey has also been successful in attracting these smaller, emerging-technology companies through innovative government programs, access to venture capital funding, and opportunities to collaborate with universities, research centers, and the established pharmaceutical companies.

Both large and small biotech companies rely on the support of the academic institutions located in New Jersey. Not only do the universities provide a highly educated workforce, but their research institutes provide the opportunity for technology transfer and collaboration. The nation's largest health sciences university, the University of Medicine and Dentistry of New Jersey (UMDNJ) is home to the Center for Advanced Biotechnology and Medicine and the Coriell Institute for Medical Research. Other research institutes include the Waksman Institute at Rutgers University, the Center for Biomedical Engineering at the New Jersey Institute of Technology, and the Lewis-Sigler Institute for Integrative Genomics at Princeton University.

The strong biotechnology presence in New Jersey is due to its willingness to accommodate and adapt to the needs of the biotech industry. Moving forward, the main obstacles for New Jersey's biotechnology industry will be competition from other states vying for lucrative biotech dollars, and the development of a unified university system.