Legislation sponsored by Senator Robert Singer (R-Monmouth, Ocean) to create a task force that will study New Jersey’s biotechnology industry and find ways to expand it has been signed into law by Governor Chris Christie.
Sen. Robert Singer’s legislation to grow New Jersey’s biotechnology industry was signed by the Governor. (©iStock)
The resolution, SJR-57, creates the “New Jersey Biotechnology Task Force” in order to improve communication between state government and the industry and to find ways to help retain and attract biotechnology companies to the state. According to BioNJ, Inc., the industry directly provides more than 60,000 jobs and more than $1.5 billion in tax revenue to the state.
“Biotechnology companies provide us with thousands of well-paying positions that can help us keep our brightest and most-skilled workers in the state,” Senator Singer said. “They also serve as valuable and steady drivers of economic development. This measure will help us understand what the industry needs and what we can do to help it grow.”
The nine-member task force will be composed of three member 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. The task force will have two years to issue a report to the legislature detailing how the industry can be assisted and advanced.
“As the home of more than 400 biotech companies, New Jersey has shown it has the infrastructure and workforce it needs to accommodate this industry,” Senator Singer said. “We have to capitalize on our foothold and ensure we are a leader in biotechnology into the future.”
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