Making New Jersey into the State of Innovation is one of the pillars of Governor Murphy’s plan for a stronger and fairer New Jersey economy. Since taking office in January 2018, the Governor has launched several initiatives and programs aimed at developing opportunities for emerging technology and life sciences companies. Among these are the creation of NJ Ignite, which provides rent support to startups moving to collaborative workspaces; a proposed New Jersey Innovation Evergreen Fund, designed to supercharge venture capital investment into Garden State startups, and the proposed expansion of the Angel Investor Tax Credit Program, which would provide a refundable tax credit equal to 20 percent of an eligible investment made into an early-stage New Jersey technology or life sciences business and a bonus for investing in underserved areas or a women or minority-owned business.

“Governor Murphy is a tireless advocate for initiatives that support the unique needs of early-stage companies. He has successfully enhanced New Jersey’s stature as one of the nation’s most vibrant biotech clusters through strong support for policies that benefit a pro-job and pro-biotechnology environment,” said Jim Greenwood, President and Chief Executive Officer (CEO) of BIO.  “The Governor’s leadership in this field will continue to benefit his state and region, in terms of jobs and innovation, for years to come.”

“Governor Murphy is one of the innovation ecosystem’s loudest cheerleaders and strongest advocates,” said Debbie Hart, President and CEO of BioNJ. “Having a governor that champions our causes and understands our vision that ‘Patients Can’t Wait,’ is a tremendous value to our life sciences community.”

“Governor Murphy took office with a vision to create an environment where young biotech companies can flourish,” New Jersey Economic Development Authority CEO Tim Sullivan said. “Since then, he has actively engaged with the life sciences industry, finding ways to support biotechnology businesses at their earliest stages, spur innovation, and create jobs for the people of New Jersey.

“New Jersey has much to offer the biotechnology sector – from the small startups to the large pharmaceutical companies that call New Jersey ‘home,’” ChooseNJ CEO Jose Lozano said. “Our talent-pipeline is second-to-none and, under Governor Murphy’s leadership, it’s growing stronger every day. We are pleased to see BIO recognize Governor Murphy’s commitment to this vital industry.”