Annie D'Agostino, Author at NJEDA

The Naval Air Systems Command, Joint Base McGuire-Dix-Lakehurst was among the advanced manufacturing facilities that OCVTS students visited during their field trip.

JACKSON, N.J. (June 10, 2019) – More than a dozen high school students today learned first-hand about career opportunities in New Jersey’s advanced manufacturing industry during the first in a series of free field trips to Ocean County manufacturing facilities organized by the New Jersey Economic Development Authority (NJEDA) and Ocean County Vocational Technical School (OCVTS). The program is designed to increase awareness and interest in a growing sector contending with a lack of young, qualified workers while educating New Jersey students about the various career paths available in advanced manufacturing.

OCVTS Precision Machine Technology Instructor Doug Cooley demonstrates machinery to students at OCVTS’ new Precision Machine Technology room at the OCVTS Jackson Center.

“Manufacturing is a growing industry here in New Jersey that provides good-paying, stable jobs and it is important that young people understand the opportunities available to them,” said OCVTS Superintendent Karen Homiek. “Providing this hands-on learning opportunity is an important way to show students the career options available right here in our community and provide the workforce New Jersey’s manufacturing sector needs to grow.”

Jesel is a Lakewood-based manufacturer of Valvetrain and

other engine parts for racecars and other specialty cars.

The field trip program is part of the NJEDA’s Advanced Manufacturing Student Outreach Pilot, a series of initiatives developed to improve perceptions of and address misconceptions about the advanced manufacturing industry while exposing students to the many career pathways available in the sector. The free trips teach middle and high school students about career opportunities in advanced manufacturing and the skills required to succeed in the sector. Through the program, students from varied socio-economic backgrounds have the opportunity to attend the field trips, especially students from Ocean County municipalities that are designated as Opportunity Zones under the federal Opportunity Zone program.

The students who attended the June 7 trip visited three Ocean County-based advanced manufacturing facilities: NAVAIR, which produces and maintains aircraft, weapons, and other systems used by America’s Navy and the Marines; Jesel, a leading producer of valvetrain products used in NASCAR racers and other vehicles; and UNEX, a manufacturer of conveyer belts and tracks for production facilities. At each stop, students had the opportunity to see high-tech manufacturing equipment in action, learn about the variety of opportunities available in the sector, and talk with employees about their experiences working in advanced manufacturing.

“Governor Murphy’s comprehensive plan for building a stronger, fairer New Jersey economy places special emphasis on high-wage, high-growth sectors like advanced manufacturing,”” said NJEDA Chief Executive Officer Tim Sullivan. “The field trip program provides students with information to consider advanced manufacturing as a viable path to a successful career, while helping to build interest among a potential workforce that could serve as the foundation the industry’s continued growth.”

For more information on career training opportunities at Ocean County Vocational Technical School please visit www.ocvts.org or call 732-473-3122.

To read Governor Murphy’s full economic plan, please visit: https://nj.gov/economicplan

About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about EDA resources for businesses call EDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.

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New Jersey Bioscience Center replaces The Technology Centre of New Jersey as the name of the NJEDA's 50-acre research park in North Brunswick.

North Brunswick, N.J. (June 6, 2019) – The New Jersey Economic Development Authority (NJEDA) today announced that it has rebranded its 50-acre research park in central New Jersey from The Technology Centre of New Jersey to the New Jersey Bioscience Center (NJBC) – North Brunswick. The new name more accurately reflects the park’s life sciences focus and the spectrum of companies located there.

Strategically situated in the heart of the state’s research corridor between Rutgers and Princeton universities, the NJBC campus offers a multitude of lab and office space options for companies at all stages of growth. Incubator, post-incubator, and independent research & development (R&D) space support the needs of entrepreneurial startups and rapidly-growing life sciences R&D companies, while build-to-suit lab and office sites accommodate larger, more-established biopharmaceutical businesses seeking to benefit from the research park’s prime location.

“From New Jersey’s highly-talented workforce to our ideal location and proximity to more than a dozen pharmaceutical giants, life sciences companies of all sizes are finding immense value in locating at our facilities,” NJEDA Chief Executive Officer Tim Sullivan said. “Rebranding the North Brunswick campus park under the New Jersey Bioscience Center umbrella will help us promote the research park’s available lab and office space to a national and international audience.”

The research park’s incubator and accelerator spaces have also been renamed to better align with the new brand. The incubator, formerly known as the Commercialization Center of Innovative Technologies and the accelerator formerly known as the Biotechnology Development Center are now respectively NJBC – Incubator at North Brunswick and NJBC – Step Out Labs at North Brunswick.

The 46,000-square-foot NJBC – Incubator offers 27 wet labs, the most of any incubator in the Garden State. Currently home to 20 businesses, the facility includes both small and large labs, as well as offices. Considered New Jersey’s leading life sciences incubator, the NJBC – Incubator also provides tenant companies with educational programs and a host of supporting resources, including help to identify funding sources and access to small business development resources, networking opportunities, and administrative support. Additionally, it offers discounted first-year rent for university drug-discovery spinouts. Startups moving to the NJBC – Incubator can apply for rent support through the NJEDA’s NJ Ignite program.

The NJBC – Step Out Labs at North Brunswick opened in June 2018 and offers intermediate lab and office space for companies that have outgrown incubator space and other early-stage companies looking to expand. The NJBC – Step Out Labs space targets all subsectors of the biotechnology industry, with the goal of serving graduates of the NJBC – Incubator and other well-funded startups that are ready for intermediate space. The NJBC – Step Out Labs currently has six tenants, including China-based Adlai Nortye, which chose its New Jersey location as its United States headquarters.

Companies interested in touring the NJBC, the NJBC – Incubator, or the NJBC – Step Out Labs should visit https://www.njeda.gov/njbc or contact Lenzie Harcum at lharcum@njeda.com.

To learn more about NJEDA resources for life sciences companies, call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov/tls and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.

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TRENTON, N.J. (June 6, 2019) – The New Jersey Economic Development Authority (NJEDA) announced today that it has closed on a $250,000 convertible note to River Edge-based InquisitHealth to help the health technology company further its mission of helping patients with diabetes, asthma, hypertension, and other chronic diseases overcome the social determinants of health and adopt healthy lifestyle changes through its peer mentoring program.

The funding was provided through the NJEDA’s NJ CoVest Fund, which is designed to help emerging technology companies bridge the funding gap between product development and commercialization and further the NJEDA’s ability to support businesses throughout their growth lifecycle. InquisitHealth, which was founded in New Jersey in 2012, plans to use this funding to significantly bolster its workforce and impact in the coming years.

“Reclaiming New Jersey’s place as a leader of innovation starts with ensuring that companies like InquisitHealth have access to the capital they need to take their businesses to the next level,” NJEDA Chief Executive Officer (CEO) Tim Sullivan said. “Investing in early-stage companies not only helps these companies reach a global marketplace, but also creates jobs and spurs opportunities for New Jersey residents.”

InquisitHealth trains successful patients as ‘peer mentors’ to help those struggling with the same chronic conditions. Through its HIPAA-compliant technology platform, InquisitHealth deploys this distributed workforce of peer mentors to help health plans and health systems address the social determinants of health and promote healthy lifestyles. InquisitHealth’s 150+ mentors have helped thousands of patients in over 12 languages and demonstrated significant improvements in clinical outcomes. Conditions supported include diabetes, pre-diabetes, asthma, HIV, and sickle cell anemia.

“We’re excited to increase our presence in New Jersey,” said Ashwin Patel, MD PhD, Co-Founder and CEO of InquisitHealth.” With the support of the NJEDA, we are expanding our partnerships with additional health systems and health plans to help them utilize the power of peer mentoring to improve population health.”

InquisitHealth currently works with clients such as Montefiore Health System, 1199SEIU, the Health and Hospitals Corporation, Duke University, Atrium Health System, NewYork-Presbyterian Hospital, Westchester Medical Center, the National Kidney Foundation, and the Crohn’s and Colitis Foundation of America. In New Jersey, InquisitHealth has partnered with Trenton Health to improve the health outcomes of Trenton residents living with diabetes.

The NJ CoVest Fund provides funding to New Jersey-based early-stage technology companies in the form of convertible notes with warrants, requiring a negative pledge and springing lien on protected intellectual property. No payments are required on the notes for seven years to allow companies sufficient time to grow. With a total funding pool of $3 million, eligible technology companies can receive investments ranging from $100,000 to $250,000. NJ CoVest funds feature three percent interest and 10-year maturity.

In 2018, InquisitHealth also raised a seed investment, of which $465,000 came from investors who participated in New Jersey’s Angel Investor Tax Credit Program. The Angel Investor Tax Credit Program offers a 10 percent refundable tax credit against New Jersey corporation business or gross income tax for qualified investments in an emerging technology business with a physical presence in New Jersey and that conducts research, manufacturing, or technology commercialization in the state. Applications must be submitted within six months of the date of investment.

To learn about the various resources available to support the technology industry, visit https://www.njeda.gov/tls and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.

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The New Jersey Economic Development Authority's next public Board Meeting will be held on Tuesday, June 11, 2019 at 10 a.m. at the EDA offices at 36 West State Street, Trenton. A copy of the proposed agenda can be found prior to the meeting at www.njeda.gov/Board. Following the Board Meeting, minutes and the full agenda will also be available at www.njeda.gov/Board.

NJEDA offers the public the opportunity to offer public comments during the Open portion of its Board Meetings. Pursuant to provisions of the Open Public Meetings Act, N.J.S.A. 10:4-12, NJEDA is entitled to permit, regulate or prohibit public participation in its meetings. Members of the public who are interested in offering comment should review the NJEDA’s policy on public comment, which is established to maintain order and prevent disruption of the meeting. The NJEDA’s policy on public comment can be found at www.njeda.gov/publiccomment.

NJEDA offers the public the opportunity to offer public comments during the Open portion of its Board Meetings. Pursuant to provisions of the Open Public Meetings Act, N.J.S.A. 10:4-12, NJEDA is entitled to permit, regulate or prohibit public participation in its meetings.

Members of the public who are interested in offering comment should review the NJEDA’s policy on public comment, which is established to maintain order and prevent disruption of the meeting. The NJEDA’s policy on public comment can be found at www.njeda.gov/publiccomment.

From left: NJEDA Managing Director of Business Development Paul Ceppi, NJEDA Director of Small Business Services Christina Fuentes, Mill Hill Pharmacy Co-Owner Elina Elkind

TRENTON, N.J. (May 30, 2019) – Representatives from the New Jersey Economic Development Authority (NJEDA) visited Mill Hill Pharmacy today to highlight funding the Trenton-based small business received through the NJEDA’s Small Business Lease Assistance Program. The Small Business Lease Assistance Program offers reimbursement of a percentage of annual lease payments to small businesses leasing new or additional space in targeted areas of the state.

Owned and operated by registered pharmacists Elina Elkind and Tatyana Orlava, Mill Hill Pharmacy prides itself on providing “old-fashioned customer service” and an extensive variety of services to the local community. The funding provided by NJEDA will allow Mill Hill Pharmacy to create job opportunities for area residents, with a particular focus on those who can communicate in Spanish and ensure the needs of neighborhood residents are met.

“We believe that our customers-first mentality and one-on-one personalized attention set us apart from large chain pharmacies,” Elkind said. “Thanks to the NJEDA, we can put the money we’re saving on rent back into the business, including hiring employees and increasing our inventory, both of which will benefit the local community.”

Through the Small Business Lease Assistance Program, the pharmacy is expected to receive nearly $6,000 in rent support over a two-year period. The program was established to encourage businesses to locate and grow in eligible commercial areas of targeted urban areas.

Today’s visit, which included NJEDA Managing Director of Business Development Paul Ceppi and Director of Small Business Services Christina Fuentes, also highlighted the recent expansion of the Small Business Lease Assistance Program to support small businesses in additional cities. In addition to existing eligible areas of Atlantic City, Camden, Passaic, Paterson, and Trenton, the program was expanded earlier this year to also include Bridgeton, Jersey City, Millville, Mt. Holly, Phillipsburg, Plainfield, Salem, and Vineland.

“The Small Business Lease Assistance Program is a resource that will attract small businesses like Mill Hill Pharmacy to downtown corridors, helping cities further develop main streets and support small business activity in these areas,” Ceppi said. “The program is one of many initiatives that are helping to support investment in communities – one of the key pillars of Governor Phil Murphy’s vision for a stronger and fairer New Jersey economy.”

About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources, call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.

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Julie Elmer, Rutgers Food Innovation Center Associate Director Food Technology, works with a team to produce a frozen entrée.

TRENTON, N.J. (May 29, 2019) – For nearly two decades, entrepreneurs developing plant-based meat alternatives, gluten-free breads, functional beverages, and many ethnic specialties have leveraged resources at the Rutgers Food Innovation Center to grow their businesses. Startups considering a move to the Rutgers Food Innovation Center can now apply for rent support through the New Jersey Economic Development Authority’s (NJEDA’s) NJ Ignite Program. NJ Ignite provides up to nine months of rent-support grants for technology and life sciences startup businesses moving to incubators, accelerators, and coworking spaces throughout the Garden State.

Located in both Bridgeton and Piscataway, the facilities are designed for use by startup- and existing-food companies, farmers and cooperatives, and retail and food-service establishments looking to market signature recipes. Tenants are assisted from concept to commercialization, with services including: business and technical mentoring, food safety and business training, collaborative workspace, and the ability to scale a food or beverage product in its US Food and Drug Administration (FDA)/US Department of Agriculture (USDA)-inspected processing facilities.

Under the leadership of Executive Director Richard McArdle, the internationally-recognized Rutgers Food Innovation Center is staffed by food industry veterans who work as a multi-functional team to address the needs of existing businesses and attract new business growth to New Jersey. This team brings decades of applied food industry experience in areas including: food safety, quality assurance, research and development, business development, marketing, and technical operations.

“To find such a breadth of knowledge under one roof is highly unique, but our innovators are the drivers behind their businesses, with our team offering support every step of the way – from concept to commercialization to the shelf,” says Diane Holtaway, Associate Director – Marketing of the Rutgers Food Innovation Center. “Whether you’re an entrepreneur coming to us with an idea, or an established enterprise looking for expertise or production space, we’ve got you covered.”

NJ Ignite is made possible through a combination of support from the NJEDA and the collaborative workspace, with the NJEDA providing up to six months’ rent and the collaborative workspace providing rent for half the length of NJEDA’s commitment. In addition to providing rent support to startups, NJ Ignite also serves as a tool for collaborative workspaces like the Rutgers Food Innovation Center to attract young businesses and will encourage the creation of new collaborative workspaces throughout the state. To date, more than a dozen collaborative workspaces have been approved to participate in the program.

“Governor Murphy’s economic plan places great emphasis on giving New Jersey a competitive edge in the global marketplace as the Garden State seeks to reclaim its role as a leader in innovation,” NJEDA Chief Executive Officer Tim Sullivan said. “Providing opportunities for innovative startups to access the benefits of facilities like the Rutgers Food Innovation Center, which can accommodate and support their growth, is just one of the ways we are advancing that goal.”

About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources, call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.

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NJEDA CEO Tim Sullivan and Superintendent of OCVTS Karen Homiek sign an MOU to create a partnership that will provide free field trips to advanced manufacturing facilities for middle and high school students.

Jackson, N.J. (May 24, 2019) – Elected officials, industry leaders, and students gathered last evening at Ocean County Vocational Technical School (OCVTS) to celebrate a partnership between the New Jersey Economic Development Authority (NJEDA) and OCVTS which will provide free field trips to advanced manufacturing facilities for middle and high school students. The program is designed to educate students about job opportunities in advanced manufacturing while informing them of the skills necessary to pursue a career in the sector.

“Manufacturing is a growing industry here in New Jersey that provides good-paying, stable jobs and it is important that young people understand the opportunities available to them,” said OCVTS Superintendent Karen Homiek. “Partnering with the NJEDA to provide free field trips where students will get the chance to see manufacturing first-hand and talk to current workers face-to-face will show students the range of opportunities available and encourage them to consider a career in manufacturing.”

New Jersey’s manufacturing industry produces more than $31 billion in economic output every year and employs more than 160,000 New Jersey workers. The industry is also one of eight focus sectors identified in Governor Phil Murphy’s economic plan. However, it has faced increasing barriers to growth as an aging workforce and a shortage of young workers shrinks the number of qualified employees available to manufacturing companies.

“It’s especially forward-thinking to include middle grade students in this pilot,” said Linda P. Eno, Ed.D., Assistant Commissioner of the New Jersey Department of Education’s Division of Academics and Performance. “Using field trips to expose middle school students to career pathways in manufacturing helps them develop an understanding of how academics and work fit together and allows them to envision a future in which they both learn and earn.”

The field trip program is part of the NJEDA’s Advanced Manufacturing Student Outreach Pilot, a series of initiatives developed in coordination with stakeholder input to improve perceptions of the advanced manufacturing industry and expose students to the many career pathways available in the sector. The field trips will provide free opportunities for first-and second-year high school students to tour advanced manufacturing facilities in Ocean County and learn about each facility’s operations. The program prioritizes ensuring students from varied socio-economic backgrounds attend the field trips, especially students from Ocean County’s three opportunity zone municipalities.

“The advanced manufacturing industry provides a wide range of good jobs with long-term career prospects, but in recent years we have had trouble attracting students and young workers,” said Patricia Cubero, General Manager of Aquatherm Industries. “Providing this hands-on learning opportunity is an important way to show students the career options available to them right here in our community and provide the workforce New Jersey’s manufacturing sector needs to grow.”

Under the partnership, the NJEDA will commit funding to cover the costs of the field trips, and OCVTS will organize and conduct the trips. The first trip is scheduled for Friday, June 7 and will consist of visits to three participating manufacturing firms in Jackson, New Jersey. Additional field trips aimed at various age groups are also tentatively planned for Fall 2019.

“One of the pillars of Governor Murphy’s plan for building a stronger, fairer New Jersey economy is investing in people. Preparing our students with the skills and experience they need to take on jobs in high-wage, high-growth industries like advanced manufacturing is critical,” said NJEDA Chief Executive Officer Tim Sullivan. “The field trip program will show students the wide variety of career paths available in this dynamic sector and will help New Jersey’s manufacturers continue to grow.”

For more information on career training opportunities at Ocean County Vocational Technical School please visit www.ocvts.org or call 732-473-3122.

About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about EDA resources for businesses call EDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.

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IMG_5882_BIO2018-group-picture_Choose-(2).jpg

Five startups will accompany the New Jersey delegation to BIO International Convention to showcase innovation in the Garden State. Photo credit: Choose NJ

TRENTON, N.J. (May 24, 2019) – The New Jersey Economic Development Authority (NJEDA) today announced the five New Jersey biotechnology startups that will join NJEDA at BIO International Convention in Philadelphia next month to showcase innovation in New Jersey. The five startups were selected from a group of companies that submitted video responses to the question “Why Choose New Jersey?” Reasons cited by the selected companies include: proximity to large pharmaceutical companies and world-class cancer institutes, affordable lab space, and opportunities to partner and network with the State’s vast biotechnology community.

BIO International provides a global platform for these biotechnology businesses to promote their therapies, products, and services. In addition to networking and attending educational sessions, the selected entrepreneurs will spend time in the New Jersey Pavilion (#1501) sharing their story of growth and success in the Garden State.

“Governor Phil Murphy has developed a comprehensive economic development strategy that places a central focus on innovation, and we look forward to these companies joining us at BIO International to tell their New Jersey success story, as we share the vision for a New Jersey innovation economy where diverse people, ideas, and businesses will flourish,” NJEDA Chief Executive Officer Tim Sullivan said.

BIO International brings together life sciences entrepreneurs, investors, and industry leaders from around the world. More than 16,000 people are expected to attend this year’s event, which is being held in Philadelphia June 3 through June 6. New Jersey’s delegation is being led by Choose New Jersey, the NJEDA, and BioNJ.
The following companies were selected to accompany the NJEDA to BIO International:

3D Biotek, LLC, in Bridgewater, supports the research community by offering 3D cell culture products. The company has recently developed a large-scale 3D Cell Expansion System to serve as an enabling technology for the emerging field of stem-cell therapy and bio-banking. 3D Biotek is a graduate of the NJEDA’s Commercialization Center for Innovative Technologies (CCIT) biotechnology incubator.

Engage Therapeutics, in Summit, is a clinical-stage biopharmaceutical company developing a Rapid Epileptic Seizure Termination (REST) therapy for people with epilepsy. Funding from a 2017 $23 million Series A round enabled Engage Therapeutics to progress its investigational product, Staccato® alprazolam, into a Phase 2b randomized, double-blind study. The study is currently ongoing and open for patient enrollment.

Socium Therapeutics, Inc., based in Parsippany, is developing orally-administered cancer vaccines. The company is currently raising capital for a Phase 1 trial of the lead candidate targeting prostate cancer from its CReST™ vaccine platform.

OncoSec Medical Incorporated is developing late-stage intratumoral cancer immunotherapies. OncoSec was founded in San Diego, but when entrepreneur Daniel O’Connor became CEO of the company, he moved it to Pennington to reap the many benefits of locating in New Jersey, including its highly-talented pharmaceutical workforce.

Tyme Technologies, in Bedminster, is an emerging biotechnology company that is developing cancer metabolism-based therapies (CMBTs™) intended to be effective across tumor types and offer low toxicity profiles. TYME is focused on advancing its lead candidate SM-88 in pancreatic, prostate, sarcoma, and breast cancers, while also planning for development into multiple metastatic cancers where SM-88 has shown encouraging results.

To learn more about EDA resources for businesses call EDA Customer Care at 609-858-6767 or visit
https://www.njeda.gov/tls and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.

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