Nokia Bell Labs will serve as main tenant in H-2

TRENTON, N.J. (March 12, 2025) – The New Jersey Economic Development Authority (NJEDA) Board today approved tax credits through the Aspire Program to support the second New Jersey Health + Life Science Exchange’s (HELIX) building in New Brunswick, known as H-2. Nokia Bell Labs, the industrial research arm of Nokia, will serve as the main tenant of H-2, a 10-story, nearly 370,000-square-foot building that will be an innovation hub in the city’s downtown. The first phase of the HELIX was approved for Aspire tax credits in 2023.

“This approval by the NJEDA Board serves as another milestone in our mission to cement New Jersey as a national leader in technological innovation, helping strengthen the New Brunswick community and create long-term economic growth across the state,” said Governor Phil Murphy. “Through the partnership of major institutions, like Nokia Bell Labs, the HELIX will support the creation of advanced technologies and allow startups to scale their business and commercialize lifechanging inventions.”

The HELIX will bring together New Jersey’s public, private, and academic sectors to create a world-class hub of innovation and a strong base of support and talent pipeline for innovative companies. The HELIX campus, consisting of three separate buildings, will provide 1.5 million square feet of multifaceted, state-of-the-art environments supporting the gamut of health and life science organizations and professions.

“The HELIX serves as a cornerstone of Governor Murphy’s vision to supercharge New Jersey’s economy and retain our legacy as a national leader in innovation,” said NJEDA Chief Executive Officer Tim Sullivan. “The Aspire Program fuels catalytic development projects that transform communities into dynamic, transit-oriented hubs, ideal for living, working, and doing business. With today’s Aspire award, Nokia Bell Labs addition to the HELIX will further support New Brunswick’s innovation ecosystem by creating cutting-edge technology, high-quality jobs, and long-term economic growth that will benefit generations of New Jerseyans.”

Last month, the NJEDA announced it will partner with Nokia Bell Labs to launch a Strategic Innovation Center (SIC) consisting of the NJ Nokia Innovation Center and Bell Labs Venture Studio, both of which will eventually be located at H-2. Both components will be focused on enabling startups to accelerate and commercialize intellectual property from Nokia Bell Labs and local universities with an emphasis in the fields of communication, artificial intelligence (AI), cloud computing, and optical and wireless networks.

“We are thrilled that the NJEDA Board has approved the Aspire tax credits for the second phase of the HELIX project. New Jersey has long been a significant hub for innovation, and this significant achievement would not have been possible without the unwavering support from Governor Murphy and the NJEDA through the Aspire Program,” said Nokia Chief Strategy and Technology Officer Nishant Batra. “This state-of-the-art facility will not only enhance our research and development capabilities, but will also drive the creation of cutting-edge technology, generate new jobs, and stimulate long-term economic growth in the state through the NJ Nokia Innovation Center and the Bell Labs Venture Studio.”

H-2 will be a research and development facility comprised of chemistry and biology laboratories, data centers, 3D printing areas, machine shops, office space, and conference rooms. The main lobby of H-2 will include a technology showcase and a coffee shop, which will have access to the Paseo, a public outdoor space connecting the Rutgers campus, the Robert Wood Johnson University Hospital District, the New Brunswick train station, and the Government and Arts District in downtown New Brunswick.

“This investment in New Brunswick’s HELIX campus is another example of how New Jersey is solidifying its position as a national leader in life sciences and technological innovation,” said Speaker Craig J. Coughlin. “With world-class partners like Nokia Bell Labs and transformative programs like Aspire, we’re building on an already impressive ecosystem that draws in top talent, keeping New Jersey at the cutting edge of global innovation. Further, major public-private partnerships such as the HELIX illustrates to the American and foreign private sector job-creators that New Jersey can get big things done with the right leadership and vision in place.”

“The approval of Aspire tax credits for H-2 marks another transformative step in New Brunswick’s evolution as a hub for cutting-edge research, innovation, and economic growth,” said New Brunswick Mayor Jim Cahill. “Nokia Bell Labs’ decision to establish its headquarters in New Brunswick is a tremendous opportunity that will further enhance our City’s role as a leader in technological advancement. This move will attract top-tier talent, drive new investment, and create opportunities that will benefit our community for years to come.”

SJP Properties is the lead developer of H-2 and was approved for Aspire tax credits of up to 80 percent of the eligible project cost, not to exceed $103.9 million.

Aspire is a place-based economic development program created under the New Jersey Economic Recovery Act of 2020 (ERA) to support mixed-use, transit-oriented development with tax credits to commercial and residential real estate development projects that have financing gaps. All residential Aspire projects must include at least 20 percent affordable housing. As a performance-based program, projects must certify that all commitments established at time of approval have been met before receiving their first disbursement of tax credits.

About the NJEDA

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 for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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Please be advised that the next New Jersey Motion Picture and Television Commission Board Meeting will be held in person and via teleconference on Wednesday, March 19, 2025, at 10:30 am. 

Members of the public who wish to speak during the public comment segment of the meeting, pertaining to agenda items, may attend in person or call into the meeting by using the conference number, and are encouraged to call in prior to the meeting start time to avoid any delays.

IN PERSON:

New Jersey Economic Development Authority

One Gateway Center

11-43 Raymond Plaza West, 14^th Floor, Newark, NJ 07102

The agenda and teleconference number can be found 48 hours prior to the meeting here.

Please be advised that the next Capital City Redevelopment Corporation Board Meeting will be held in person and via teleconference on Tuesday, March 18, 2025, at 11:00 am. 

Members of the public who wish to speak during the public comment segment of the meeting, pertaining to agenda items, may attend in person or call into the meeting by using the conference number, and are encouraged to call in prior to the meeting start time to avoid any delays.

IN PERSON:

NJEDA Board Room

36 West State Street, Trenton, NJ 08625

TELECONFERENCE:

CONFERENCE NAME:                                CCRC BOARD MEETING

PARTICIPANT DIAL-IN NUMBER:              551-220-2262

PARTICIPANT ACCESS CODE:                    550 079 501#

The agenda can be found 48 hours prior to the meeting on the website: www.njeda.gov/ccrc.

The New Jersey Economic Development Authority’s next public Board Meeting will be held in person, via conference call, and via Microsoft Teams on Wednesday, March 12, 2025, at 10:00 am.

Members of the public may participate in the meeting attending in person, by calling in on the conference line, or joining via Microsoft Teams link.  Members of the public will have an opportunity to speak during the public comment segment of the meeting. The following conference number and Microsoft Teams link are being provided:  

MEETING NAME: NJEDA BOARD MEETING (MARCH 12, 2025)

IN PERSON:

NJEDA Board Room

36 West State Street, Trenton NJ

PARTICIPANT DIAL-IN NUMBER:       1-888-790-3708

PARTICIPANT ACCESS CODE:             7825427

MICROSOFT TEAMS MEETING ACCESS LINK

Members of the public are encouraged to call in prior to the time the meeting is scheduled to begin to avoid any delays.

The agenda can be found 48 hours prior to the meeting on our website: https://www.njeda.gov. The meeting will also be recorded and posted to the NJEDA website shortly after the conclusion of the meeting.

The program aims to reduce greenhouse gas emissions from buildings in select New Jersey municipalities

TRENTON, N.J. (March 4, 2025) – The New Jersey Economic Development Authority (NJEDA) has awarded more than $3.3 million under the NJ Cool program to support five clean energy projects in Edison and Newark. Through this program, building owners and tenants in eligible municipalities can receive grants for construction projects that reduce greenhouse gas emissions.

“Under Governor Phil Murphy’s leadership, New Jersey continues to invest in our clean energy economy by supporting programs and initiatives that lower our carbon footprint, and foster a cleaner and greener state,” said NJEDA Chief Executive Officer Tim Sullivan. “These approvals will help improve the health and well-being of families and children in the Newark and Edison communities, while creating jobs and boosting New Jersey’s clean energy sector.”

Edison 27 Investors, LLC, the owners of a multi-tenant office building in Edison, was awarded $1 million in grant funding through NJ Cool to replace six existing rooftop Heating, Ventilation, and Air Conditioning (HVAC) units with efficient electric models, as well as upgrade the associated system controls within the building.

“We are thrilled to receive this NJ Cool funding to modernize our building’s HVAC systems and enhance energy efficiency,” said David Elkouby, a partner at American Equity Partners, the owner of Edison 27 Investors, LLC. “Energy conservation and sustainability are top priorities for us, and this project will reduce emissions, lower costs, and create a greener environment for our tenants.”

Samp Spirits II Inc., the owners of Harvest Wines & Spirits in Edison, was awarded over $200,000 in grant funding to replace the store’s existing natural gas fired rooftop HVAC unit with a new air-source heat pump and auxiliary gas burner, as well as install solar photovoltaic panels, upgrade the interior and exterior lighting to energy-efficient LED lighting, and replace the roof with improved thermal insulation.

“HWS is taking a bold step toward sustainability with new energy efficiency upgrades, supported by NJEDA incentives that reduce costs and maximize savings,” said Rakesh Patel, Partner at HWS. “These upgrades include high-efficiency lighting, HVAC system modernization, and renewable energy solutions, cutting greenhouse gas emissions while lowering operational expenses. By leveraging these incentives, we are achieving top-tier efficiency and a greener footprint, benefiting both the environment and the community.”

Samarpan at Edison, LLC, an independent franchisee of a Dunkin’ in Edison, was awarded over $130,000 in grant funding through NJ Cool to replace the building’s existing HVAC system, as well as upgrade the interior and exterior lighting systems to utilize energy-efficient LEDs.

“With the support of the NJ Cool grant, we are taking meaningful action to combat climate change by reducing emissions and improving energy efficiency,” said Himanshu Patel, a partner at Samarpan at Edison LLC (DBA Dunkin’). “This initiative reflects our ongoing commitment to environmental stewardship and a more sustainable future for New Jersey.”

153 Halsey Newark, LLC was awarded two grants through NJ Cool totaling $2 million for projects at two commercial condominium units they own in Newark. The grants will be used to replace existing natural gas boilers in the building with an electric Variable Refrigerant Flow (VRF) system, as well as make energy-efficient lighting upgrades.

“153 Halsey Newark LLC and our partners, SHIFT Capital, The Hanini Group, and Mahalakshmi LLC, are excited for the opportunity to partner with the New Jersey Economic Development Authority on the NJ Cool Program,” said Jamie Graziano, Senior Asset Manager at SHIFT Capital. “Our companies have been significant players in the rehabilitation of Newark and other metropolitan areas with a focus on creating equitable and mixed-income communities for the long-term. We believe community-centered investments create shared and sustainable economic opportunity and growth, and community impact that unites people, businesses, neighborhoods, and cities. With the help of the NJEDA, we hope to continue our investments in Newark and have a positive impact on the local communities that we serve. We thank NJEDA for their continued support.”

Under NJ Cool, the NJEDA provides grants of up to $1 million for 50 percent of project costs to applicants for eligible hard construction costs for emissions-reducing retrofit projects. Projects are required to update the building’s heating or cooling system and can also include other energy efficiency measures or adding on-site renewable energy systems, such as solar panels. In addition to reducing emissions, the program intends to accelerate the adoption of more environmentally friendly building systems, technologies, and construction practices within New Jersey. Currently, projects in the municipalities of Atlantic City, Edison, and Newark are eligible.

Applications for NJ Cool are currently open and are being accepted on a first-come, first-served basis. For more information on the program, including full application requirements and eligible projects, please visit https://www.njeda.gov/njcool/ or email njcool@njeda.gov.

About the NJEDA

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 for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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Business owners from Trenton, Ewing, Burlington, and Hamilton joined the discussion

TRENTON, N.J. (February 28, 2025) – Earlier this week, four Black-owned business owners joined a roundtable discussion to share their stories of opening and growing their businesses in New Jersey. The roundtable, which was hosted by the New Jersey Economic Development Authority (NJEDA) as part of its Black History Month celebration, centered around the entrepreneurs’ experience as Black business owners in the state and how New Jersey can continue providing resources to uplift Black-owned businesses.

The roundtable was held at Mercer County Community College’s Trenton Campus and included businesses from a variety of industries such as cannabis, maternal health, hydroponic farming, and the arts.

NJEDA CEO Tim Sullivan, Tahir Johnson, Jaye Wilson, Assemblywoman Tenille McCoy, Erica Jones, Desmond Hayes, NJEDA Chief Diversity & Inclusion Officer Michelle Bodden

“Since day one, Governor Murphy has been committed to uplifting Black business owners and creating a strong, diverse, and equitable economy. Thanks to Assemblywoman McCoy and the entire Legislature, the NJEDA has been able to implement programs that unlock critical resources to ensure Black entrepreneurs can make their dream a reality,” said NJEDA CEO Tim Sullivan. “While New Jersey has made great progress, our work continues to ensure minority business owners have the resources to grow their businesses in the Garden State.”

“Governor Murphy’s dedication to supporting Black-owned businesses plays a crucial role in strengthening our families, communities, state, and nation,” said NJEDA Chief Diversity & Inclusion Officer Michelle Bodden. “Discussions like these are vital to ensuring that the NJEDA’s programs are responsive to the needs of minority business owners, who face unique challenges in accessing the capital and resources needed to grow and thrive.”

“As the daughter of a small business owner, I’ve witnessed the dedication, resilience, and innovation required to establish and maintain a business,” said Assemblywoman Tennille R. McCoy. “Black entrepreneurs are crucial to our state’s economic growth, and it’s imperative that we keep investing in programs that dismantle barriers and foster equitable opportunities. The NJEDA’s commitment to supporting Black-owned businesses empowers more entrepreneurs to realize their visions, ultimately strengthening communities and fueling economic success throughout New Jersey.”

Simply Pure Trenton is a cannabis dispensary located in Ewing and is the first Black-owned social equity dispensary to receive a license in New Jersey. Founder and CEO Tahir Johnson received funding through the Cannabis Seed Equity Grant.

“As a Black entrepreneur in the cannabis industry, the support from the NJEDA has been instrumental in turning my vision into reality. Access to capital remains one of the biggest barriers for minority-owned businesses, and programs like the Cannabis Seed Equity Grant are critical in leveling the playing field,” said Tahir Johnson, Founder & CEO, Simply Pure Trenton. “Through this funding, Simply Pure Trenton was able to establish itself in New Jersey’s cannabis market, creating jobs and economic opportunities in our community. I appreciate the NJEDA’s commitment to ensuring Black-owned businesses have the resources they need to thrive.”

Based in Trenton, Melinated Moms is a consulting firm that focuses on services for corporations, non-profits, government entities, and other organizations committed to strengthening maternal health outcomes for marginalized communities. Founding President and CEO Jatesha ‘Jaye’ Wilson was awarded funding through the Commission on Science, Innovation, and Technology’s (CSIT) Maternal and Infant Health R&D Grant.

“As a Black woman-owned business, having opportunities to share the challenges, complexities, and championing moments of social entrepreneurship is always important. While we know Black women account for less than one percent of Venture Capital funding; it is important to learn how other investment funds can diversify their revenue and resource access in the same way the NJEDA invested in my company,” said Jatesha ‘Jaye’ Wilson, Founding President & CEO, Melinated Moms. “My goal with sharing the work of my ‘MOM Profit’ is to gain direct visibility of what Black women business owners are experiencing and give insight to how to improve our business relationships with the right support behind us.”

GeoGreens, located in Hamilton, is an indoor hydroponics farm that grows fresh, local produce year-round for the Tri-State area. Because GeoGreens is entirely indoors, it is not subjected to the effects of climate seasonality and is aiming to become as close to 100 percent zero waste as possible.

Founder and Owner of GeoGreens Desmond Hayes is the recipient of the Clean Tech Research and Development (R&D) Voucher Pilot Program, Manufacturing Voucher Program (MVP) Phases I and II, the CSIT Food and Agriculture Research & Development Pilot Seed Grant Program, the CSIT Pilot Clean Tech Demonstration Grant Program, the Main Street Micro Business Loan, the Small Business Improvement Grant, and the Small Business Emergency Assistance Grant Phase IV.

“Simply put, without the NJEDA and CSIT, and the wonderful staff that have remained accessible, GeoGreens would not be in a position of growth, with a prosperous future ahead,” said Desmond Hayes, Founder & Owner of GeoGreens. “Both agencies have helped our organization remain operational through turbulent times in the industry, pivot into different disciplines, and grow national relationships. For this, and much more, we are truly appreciative of the agencies’ assistance!”

Located in downtown Burlington, The Turquoise Cup is a paint-your-own pottery and ceramics studio specializing in art and pottery classes for kids and adults, as well as events such as birthday parties. The studio is also a full-service cafe, offering coffee, tea, boba, sandwiches, and baked goods. Founder and Owner Erica Jones received funding through the Small Business Improvement Grant and the Main Street Micro Business Loan.

Through the Main Street Recovery Program, which provides grants, loans, and technical support to eligible New Jersey businesses, the NJEDA is supporting minority-owned businesses across the state. Last year alone, the NJEDA supported nearly 500 Black-owned businesses, totaling $7.8 million in funding.

To view the full roundtable discussion, please click here.

About the NJEDA

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 for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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Onyx Partners Group and Lazear Capital Partners will utilize $2.7 million to assist businesses as part of future ESOP Assistance Program

TRENTON, N.J. (February 27, 2025) – The New Jersey Economic Development Authority (NJEDA) Board approved contract agreements with Onyx Partners Group and Lazear Capital Partners to help New Jersey companies create Employee Stock Ownership Plans (ESOP). The NJEDA’s forthcoming ESOP Assistance Program will connect approved applicants with one of the vendors to perform feasibility studies and provide technical assistance, which is often the first step in creating an employee ownership model.

In 2021, Governor Murphy issued Executive Order No. 262, which established the Wealth Disparity Task Force, which examines the causes of, and creates remedies for, the longstanding wealth disparities that affect Black and Hispanic or Latino New Jerseyans. ESOPs, an employee ownership model in which employees retain interest in shares of a company through holding corporate stock in a trust, can create generational wealth for workers and provide unique succession plans for business owners.

“Under Governor Murphy’s leadership, New Jersey has made great strides building a stronger and fairer economy for communities, residents, and business owners. As part of ensuring equitable economic growth, ESOPs serve as a resource for New Jersey companies that want to craft sustainable business transition plans, create access to economic opportunity for workers and their families, and support the state’s growing, diverse, business ecosystem.” said NJEDA Chief Executive Officer Tim Sullivan. “Through the NJEDA’s upcoming ESOP Assistance Program, the state’s companies will be better able to determine if the ESOP model is feasible, eliminating technical and financial barriers that can be difficult for business owners to navigate.”

In July 2024, the NJEDA entered into an agreement with the Rutgers School of Management and Labor Relations to create educational and informational programming to increase the quantity of New Jersey businesses utilizing an ESOP. ESOPs are successful nationwide and around the state, creating and sustaining wealth for employee owners. New Jersey is home to 88 ESOPs, holding $64.9 billion in plan assets covering 423,429 current employees and retirees, with an average stock account for eligible current employees of $188,868.

“By promoting employee ownership models, especially among people of color, we aim to build generational wealth and reduce economic disparities,” said Michelle Bodden, NJEDA Chief Diversity, Equity, and Inclusion Officer. “Employee ownership is a powerful solution that extends the promise of the American Dream to workers and business owners across all backgrounds. For Black workers and Black-owned businesses, the impact is particularly meaningful. Converting businesses to employee ownership not only helps preserve Black-owned enterprises but also empowers Black employees to benefit directly from their labor, potentially increasing household income by up to 92 percent. These transitions have the potential to close racial wealth gaps and uplift entire communities.”

“Rutgers is proud of the opportunity to partner with NJEDA as it develops this assistance program,” said Rutgers Institute for the Study of Employee Ownership and Profit Sharing Associate Director and Rutgers Center of Employee Ownership Executive Director William Castellano. “Together we are continuing our work to promote the many benefits of employee ownership throughout the State; from the business owner who is looking for a sustainable succession plan option, to the worker who stands to gain an added benefit through these opportunities.”

Onyx Partners Group and Lazear Capital Partners were selected following a Request for Proposals for the forthcoming ESOP Assistance Program in September 2024, which solicited proposals from firms experienced in ESOP transitions, including the design and development of feasibility studies and valuations.

The NJEDA’s ESOP Assistance Program is expected to be presented to the NJEDA Board for final approval in March. Following approval, applications are expected to open in early April.

About the NJEDA

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 for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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Strategic Innovation Center will support the growth of local biotech companies and promote regional scientific and biomedical innovation

TRENTON, N.J. (February 24, 2025) – The New Jersey Economic Development Authority (NJEDA) and the Coriell Institute for Medical Research announced the creation of a new Strategic Innovation Center (SIC) in Camden, leveraging the world-class assets available at Coriell to support biomedical research and innovation. The new innovation center will be fully equipped with state-of-the-art incubator and laboratory spaces for emerging biotech companies, will drive economic growth in the region and establish Camden as a leader in life sciences innovation. The project is expected to create approximately 150 new permanent jobs, plus 100 construction jobs.

“Since taking office, my Administration has been laser-focused on advancing New Jersey’s innovation economy through targeted investments in our most crucial industries and sectors,” said Governor Phil Murphy. “The NJ Biomedical Strategic Innovation Center is set to redefine biomedical research and development by uniting private companies, premier academic institutions, and leading entrepreneurs to pave the way for groundbreaking biomedical technologies, further cementing New Jersey’s legacy of leadership in innovation and life sciences.”

“Under Governor Murphy’s leadership, New Jersey has made historic investments in its innovation ecosystem, empowering entrepreneurs with the resources they need to thrive, further solidifying the state’s position as a global leader in innovation,” said NJEDA Chief Executive Officer Tim Sullivan. “Through the NJEDA’s Strategic Innovation Center initiative, Camden will serve as a pivotal hub for cutting edge biomedical research, advancing lifesaving technologies in cancer treatment, stem cell applications, epigenetics, and drug development. By partnering with leading corporations and academic institutions, the NJ Biomedical Strategic Innovation Center will leverage the state’s brightest minds to create companies of the future, generating high-quality jobs, and growing New Jersey’s economy.”  

The NJ Biomedical SIC will encompass approximately 45,000 square feet at the Lewis L. Coriell Medical Research Center in Camden, which will be in close proximity to the headquarters of Campbell’s and Subaru, building upon the city’s economic strength and commitment to attracting world-class enterprises. The Coriell Institute will leverage its international reputation in biobanking and cutting-edge biomedical research to support innovative startup companies at the SIC.

The Coriell Institute for Medical Research is a leader in biomedical innovation and is home to some of the most famous biobank collections, including the National Institutes of Health’s premier collections representing thousands of human diseases. Coriell scientists work to accelerate scientific discovery by generating world-class biomaterials and conducting groundbreaking research in biobanking and epigenetics.

“Coriell is thrilled to partner with Governor Murphy and the NJEDA to expand the life sciences ecosystem in southern New Jersey,” said Jean-Pierre Issa, MD, President and CEO of the Coriell Institute. “Boasting attractive advantages including the opportunity to collaborate with Coriell Institute’s world-class scientists, having immediate access to Coriell’s world renowned biobanks, and operating in a more affordable locale, will make the CoLabs incubators a highly desirable destination for emerging biotech companies.”

The SIC will host emerging biotech companies, with a focus on cancer research, epigenetics, stem cells, and drug development. The innovation center will also enter into cooperation agreements with Rutgers University, Rowan University, and other New Jersey institutions of higher education to promote academic collaboration.

Pending approval by its Board, the NJEDA intends to invest $20 million to support the NJ Biomedical SIC. The Coriell Institute will invest over $21 million to construct the innovation center, including lab and co-working space that will house specialized equipment and offices.

“The creation of the Strategic Innovation Center is a monumental step in strengthening Camden City’s position as a center for innovation in life sciences,” said State Senator Nilsa Cruz-Perez, Assemblyman William Moen, and Assemblyman William Spearman (LD-5). “With the partnership between the New Jersey Economic Development Authority and the world renowned Coriell Institute of Medical Research, we are not only driving cutting-edge biomedical research but also fostering an environment where groundbreaking discovery and progress can thrive. This center will play a critical role in advancing healthcare solutions while solidifying Camden as a leading force in the global life sciences market.”

“Innovation doesn’t happen in isolation—it thrives in places where ideas collide, where mentorship meets ambition, and where the next generation of pioneers has the tools to turn bold ideas into reality,” said Assembly Majority Leader Lou Greenwald. “Through this historic collaboration between the NJEDA and Camden, we are not just investing in a facility—we are investing in the future of this city as a powerhouse for biomedical discovery and economic growth. The future is being built right here in Camden, and I’m proud to be part of it.”

“The formation of the NJ Biomedical Strategic Innovation Center in Camden marks a transformative step in our commitment to fostering scientific advancement and economic growth in South Jersey,” said Assemblywoman Melinda Kane. “Thanks to the partnership between NJEDA and Coriell Institute, New Jersey remains at the forefront of life sciences and technology, driving innovation in cancer treatment, stem cell applications, and drug development.”

“I commend Governor Murphy and NJEDA for working with the leadership of Coriell Institute for Medical Research on this exciting expansion,” said Camden Mayor Victor G. Carstarphen. “Camden is the proud home to the growing Eds and Med’s community.  Coriell is a longtime partner here in Camden and we are pleased to build upon that relationship to ensure Camden leads the way in life sciences innovation.  The new Strategic Innovation Center will result in the creation of over 100 new jobs, the creation of a new state of the art facility, and retention of the world’s best scientists.”

SICs are facilities that support research and development, innovation, and entrepreneurship through mentorship, networking opportunities, hands-on training, business support services, and education opportunities. SICs can be accelerators, incubators, or research centers. Having a physical location where entrepreneurs can collaborate will help support new, diverse innovators and help drive long-term economic growth.

Last week, the NJEDA announced it was partnering with Nokia Bell Labs to create the NJ Nokia Innovation Center and New Jersey Bell Labs Venture Studio focused on accelerating and commercializing intellectual property in the fields of communication, artificial intelligence (AI), cloud computing, and optical and wireless networks. For more information on the NJEDA’s Strategic Innovation Center initiative, click here.

About the NJEDA

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 for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

About the Coriell Institute for Medical Research

The Coriell Institute for Medical Research is a globally recognized leader in biobanking and biomedical research. Coriell is home to one of the world’s foremost biobanks which distributes biological samples and offers research and biobanking services to scientists around the world. Coriell is the trusted steward of world-renowned collections for the National Institutes of Health (NIH), disease foundations and commercial clients. Also a leader in genomic and epigenomic research, Coriell is uncovering the ways our genetic makeup affects our health, especially with regard to cancer, aging, and personalized medicine. Coriell leads or participates in several research partnerships, including the Camden Cancer Research Center and the Camden Opioid Research Initiative. For more information, visit www.coriell.org.