Further demonstrating the Christie Administration’s commitment to improve New Jersey’s business climate, Lt. Governor Kim Guadagno today joined officials from Allergan to officially open the company’s new research and development center in Bridgewater. The decision by the global, technology-driven multi-specialty health care company to locate its new center in New Jersey will create as many as 400 jobs in the state.
“Our aggressive efforts to promote economic growth and foster job creation and investment in New Jersey are delivering results for our citizens. Allergan is a world-class company that is making an important business investment in our state and a commitment to residents with several hundred new high quality, research and development jobs,” said Lt. Governor Kim Guadagno. “Creating good paying, private sector jobs that are sustainable over the long term is the number one priority of this Administration.”
Demonstrating New Jersey’s commitment to work with the company to bring its R&D facility – along with its nearly 400 jobs – to New Jersey, Governor Christie met with David E.I. Pyott, Allergan’s chairman of the board, president and chief executive officer. In addition, the New Jersey Business Action Center provided Allergan with advocacy services and identified potential sites for the new facility and the Economic Development Authority approved a $14.9 million incentive for the company to bring its R&D center jobs to New Jersey.
Since January 2010, over 30 life sciences companies have either located or decided to remain in New Jersey. This represents more than 8,500 life sciences jobs attracted to and retained in the state since 2010.
New Jersey’s life sciences sector employs over 122,000 people, which is nearly 4 percent of the state’s private sector employment as of the third quarter of 2011.
“The life sciences sector is vital to New Jersey’s economy because companies like Allergan provide good, well paying jobs for our workforce. Equally important, they rely on locally available goods and services, which creates even more jobs and economic opportunities in all regions of our state,” continued Lt. Governor Guadagno. “And as our population grows older, Americans and people throughout the world will look to New Jersey’s life sciences sector for new treatments for many prevalent diseases.”
Pharmaceutical companies comprised 43.8% of New Jersey’s life science establishments in 2010. Biotechnology companies account for 34.6% and medical device companies account for 21.6%. In 2010, New Jersey’s life sciences employers paid more than $14 billion in wages, or 8.1 percent of the state’s total private sector wages. The average annual wage was $114,757, which was 106 percent higher than the state’s total private sector average annual wage of $55,736.
New Jersey’s life sciences companies reflect the state’s highly educated workforce. Over three-fifths of the sector’s workers hold at least a bachelor’s degree. More than twenty-two (22.3%) percent hold a master’s or professional degree and 8.2 percent hold a doctoral degree.
Led by Lt. Governor Guadagno, the New Jersey Partnership for Action (PFA) supports the vital role business plays in advancing the state's economy and creating jobs. The PFA is a three-pronged public-private approach to economic development and the starting point for all initiatives, policies, and efforts to grow New Jersey's economy and create quality, sustainable jobs in our communities. The three elements of the PFA include the Business Action Center, reporting directly to the Lt. Governor and providing the business community with a single point of contact, applying a proactive, customer-service approach to businesses' interactions with State government; the New Jersey Economic Development Authority, serving as the state's "bank for business"; and Choose New Jersey, an independently funded and operated 501(c)(3) not-for-profit corporation created to encourage and nurture economic growth throughout New Jersey. Businesses considering a move or in need of assistance are encouraged to call New Jersey's
Business Action Center at (866) 534-7789 or visit the State's Business Portal at www.newjerseybusiness.gov.