INVENTIV HEALTH CELEBRATES MOVE INTO NEW HEADQUARTERS AS IT EXPANDS ITS BUSINESS IN SOMERSET COUNTY
State incentives instrumental as company will create and maintain more than 500 jobs
Franklin Township, N.J. (Sept. 9, 2009) – More than 500 inVentiv Health employees today joined business clients and state and local officials here at the company’s new four-story, 154,000-square-foot headquarters facility to celebrate inVentiv’s decision to remain in New Jersey and grow its business in the state.
inVentiv Health (NASDAQ: VTIV), a leading provider of commercialization services to the global pharmaceutical and health care industries, recently relocated to new Somerset County headquarters at 500 Atrium Drive. The new location is enabling the company to consolidate several offices in the region and encourage greater integration among its businesses.
“InVentiv Health’s choice to expand its operations in the Garden State is good news for New Jersey,” Governor Jon S. Corzine said. “The company’s investment here is evidence that even during a global economic recession, this state remains a desirable location for business growth and expansion. We thank InVentiv and their employees for their commitment.”
“Creating and retaining jobs in New Jersey is the major focus of Governor Corzine’s comprehensive Economic Growth Strategy,” said Jerry Zaro, chief of the Governor’s Office of Economic Growth, who attended the event along with Caren S. Franzini, chief executive officer of the New Jersey Economic Development Authority. “We applaud inVentiv Health’s choice to expand its operations in New Jersey, particularly during this tough economic period as we emerge from a national recession, and we are pleased that some of our state’s incentive programs were instrumental in the company’s decision to remain in our state.”
In support of inVentiv Health’s decision to grow in New Jersey, the company recently finalized a grant under the state’s Business Employment Incentive Program associated with its plans to create 150 new full-time jobs at the location. The company has also been approved for incentives under the Business Relocation and Retention Assistance Grant Program for maintaining over 400 jobs in the state.
“inVentiv has been based in New Jersey for the past decade, and we are very pleased to be maintaining our headquarters in the state,” said Terry Herring, President and COO of inVentiv Health. “The new building will not only support our continued growth, it also will bring more of our capabilities together under one roof, making it easier for us to share resources and deliver integrated solutions for our clients.”
The company currently employs nearly 550 people in New Jersey, including almost 100 temporary workers. It plans to move approximately 50 jobs from Pennsylvania to New Jersey before the end of the year. The new Franklin Township headquarters has enabled inVentiv Health to consolidate operations previously centered in Somerset, Somerville and Newtown, Pa.
The company had considered expanding its Newtown facilities before deciding to secure its future in New Jersey.
inVentiv Health supports over 350 client organizations globally, including all top 20 global pharmaceutical companies as well as emerging and specialty biotech leaders. The company is listed on the NASDAQ National Market under the symbol VTIV.