LT. GOVERNOR GUADAGNO PRAISES LIFE SCIENCES CONSULTING FIRM FOR PLANNING MOVE TO JERSEY CITY
Relocation of Intrasphere from NYC Expected to Result in 300 New Jobs in New Jersey
Trenton, N.J. (May 26, 2010) – Lt. Governor Kim Guadagno today lauded Intrasphere Technologies, Inc. for choosing to relocate its headquarters to Jersey City when its New York City lease expires at the end of next month. The life sciences consulting firm plans to move 120 existing jobs to the Harborside Plaza 10 building and create 180 new jobs over the next two years.
“New Jersey is already recognized as the global epicenter of the pharmaceutical industry and we are thrilled that Intrasphere has decided to bring 300 new jobs into the state and join so many of the world’s leading life sciences businesses that already call New Jersey home,” Lt. Governor Guadagno said. “Governor Christie and I are continuing to focus on making New Jersey a home for growth by enhancing New Jersey’s business climate, streamlining our regulatory process and advancing pro-business initiatives.”
Founded in 1996, Intrasphere provides comprehensive, business services and software solutions to companies in the life sciences industry, addressing areas such as drug safety, clinical, regulatory, corporate information technology and business intelligence. Its client list includes many of the world’s best known life science companies. New Jersey is home to such well-known names as Bayer, Novartis, Bristol-Myers Squibb, Celgene, Johnson & Johnson, Merck, Novartis, Pfizer, Roche and sanofi-aventis. In addition to its headquarters operations, Intrasphere has a location in London.
“New Jersey has made it clear to us that they are interested in our business, and in helping Intrasphere grow,” said Samuel Goldman, co-founder & COO. “As a life science-focused company, it’s encouraging to be in the same state that many of our clients call home. The fact that the Lieutenant Governor has reached out to us directly and has made her office accessible to us is proof positive that New Jersey is open for business.”
In support of the move, in February of this year, New Jersey awarded Intrasphere a Business Employment Incentive Program (BEIP) grant worth an estimated $12.4 million over 10 years. The grant was a material factor in its decision to move its corporate headquarters to New Jersey, the company said. Intrasphere expects to invest $965,000 in its relocation project.
Intrasphere is the second major pharmaceutical business recognized in the last week for its plans to grow in New Jersey. Last week, Watson Pharmaceuticals, Inc. was commended by state officials for announcing plans expand its Parsippany headquarters and create up to 300 new jobs. Watson also received state incentives through the BEIP and Business Retention and Relocation Assistance Grant program to support its New Jersey expansion.