NJFuture Redevelopment Forum 13 Innovation Districts Hart
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NJFuture Redevelopment Forum 13 Innovation Districts Hart

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A look at how one significant industry cluster in New Jersey is taking advantage of proximity to thrive.

A look at how one significant industry cluster in New Jersey is taking advantage of proximity to thrive.

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NJFuture Redevelopment Forum 13 Innovation Districts Hart NJFuture Redevelopment Forum 13 Innovation Districts Hart Presentation Transcript

  • New Jersey’s ThrivingBiotechnology Cluster Debbie Hart President & CEO BioNJ, Inc. March 1, 2013
  • About BioNJ Trade Association Founded in 1994 by biotech industry CEOs Voice of the Biotechnology and Biotechnology-related Industries in New Jersey 300 Members
  • Our Mission To advance the biotechnology and biotechnology related industries in New Jersey for the benefit of the citizens, the economy and patientsof New Jersey, the U.S. and worldwide
  • Four Pillars PublicPolicy Education Services Workforce Development
  • Overview What is a Cluster? New Jersey’s Biotech Cluster Potential for Future Growth
  • W is an Industry Cluster? hatCritical masses in one place of linked industriesand institutions—from suppliers to universitiesto government agencies—that enjoy unusualcompetitive success in a particular fieldSiliconValleyHollywoodMichael Porter, Ph.D., Harvard Business Review, Nov-Dec 1998
  • W does it Provide? hat Proximity Geographic Cultural Institutional
  • W does that Mean? hat Synergy Special Access Closer relationships Better information Powerful incentives Other advantages difficult to tap from a distance
  • And so on…Increase the productivity of companies based in the areaDrive the direction and pace of innovationStimulate the formation of new businesses within the cluster
  • A Biotechnology Cluster IndustryTalent Academic Centers of Excellence Technology Transfer Machines Venture Capitalists Service Providers Government
  • US Biotechnology Industry Clusters Boston, MA San Diego, CA New Jersey (NYC and Phila) Raleigh-Durham, NC Seattle, WA
  • New Jersey’s Biotech Cluster A Brief Introduction
  • New Jersey’s Many AdvantagesUnique and strong pharmaceutical industry baseHighly educated and talented scientific workforceHighly experienced commercial talent: regulatory and marketingSupportive State Government
  • New Jersey’s Many Advantages Centers of academic excellence at: Rutgers University/UMDNJ, Princeton University, NJIT, various other research institutions Access to FDA and NIH in Washington Wall Street in NYC Transportation hub with international access Time zone advantage
  • W NJ Lacks hat MIT, Harvard City Center VCs compared to Boston and San Diego Good PR Positive Self Image
  • NJ Biotechnology Industry Overview  New Jersey, one of leading biotechnology clusters in the U.S. and the world  30 companies in New Jersey in 1994  80 companies in New Jersey in 1998  More than 350 in New Jersey
  • Industry Leaders
  • Combined Industry Impact – 2009-10Biotech, Pharma, Medtech IndustriesOpEx: $23B (5% total) to State’s Gross DomesticProductOpEx = 200,000 jobsWages: $14B (8.1% of State’s total)CapEx: >$280MM federal, state, local taxes>$7.5B total tax revenue to federal, state, localgovernmentsRutgers University, 2011
  • Biotech Generates Important EconomicBenefits for NJNJ Biotech jobs 15,000 - 16,400+9.3% 6/10-6/1246% operated in New Jersey for 5 orfewer years37% in business for 5 or fewer years71% anticipated hiring in 2012Oncology remains top area of researchBioNJ / Ernst & Young Survey, 2012
  • From Whence it Comes …to be continued… Other States Other Countries NJ Biotech Spinouts NJ Pharma Spinouts Academic Institutions Commercial Talent a draw Big Pharma a draw
  • Stage is Set: Cool OpportunitiesRutgers/UMDNJ mergerAngel Investor Tax CreditLife Sciences AcceleratorIncubators may investCamden Prison redevelopmentAnd…
  • A-3680 Pending – GrowNJ++ Overhauls BEIP, BRRAG; helps fulfill State Strategic Plan Biotech++: Innovation zone, high- salary, targeted industry, R&D collaborations Incubator pre-approval
  • Think Outside the BoxBoston Waterfront Innovation DistrictEast River Science Park in NYCNewark????????Camden???????Where Else in New Jersey?
  • 1255 Whitehorse-Mercerville Road Building B • Suite 514 Trenton, NJ 08619609.890.3185 tel • 609.581.8244 faxDHart@BioNJ.org • www.BioNJ.org