BY JENNIFER KOHLHEPP
Staff Writer
NORTH BRUNSWICK — The state just made it easier for technology-based companies to bring their business to the township.
Gov. James E. McGreevey committed $50 million last week to creating three Innovation Zones in Central Jersey, where newly established research and development companies will receive benefits including tax breaks.
McGreevey said the initiative would provide for economic growth as well as keeping the state competitive in technology-based industries into the distant future.
“My plan is to create an innovation triangle — a partnership among tech-based companies, the state’s research universities and state government — to make New Jersey a world leader in scientific research,” McGreevey said.
After signing the executive order during a special ceremony at the New Jersey Institute of Technology in Newark on Sept. 8, McGreevey later held a press conference at the Commercialization Center for Innovative Technologies at the Technology Centre of New Jersey, North Brunswick. Entrepreneurs, business leaders, university officials, and state and local government officials attended the event.
Sherrie Preische, executive director of the New Jersey Commission on Science and Technology (CST), said building collaboration between university researchers and industry is key to speedily moving new technology from the lab to the marketplace.
“The commission is eager to help build and strengthen relationships between universities and entrepreneurs. Such partnerships are the heart of our Innovation Zones,” she said.
Under the provisions of the order, the commission will work with the New Jersey Economic Development Authority (EDA) to direct resources to new companies in North Brunswick, New Brunswick, Newark and Camden, McGreevey said.
EDA Chief Executive Officer Caren S. Franzini said, “Whether it’s through start-up capital, grants for job creation, real estate assistance or entrepreneurial training, the EDA is ready to build upon the state’s successes to bring even more opportunities to technology businesses looking to expand in or relocate to the Garden State.”
Franzini said the EDA will also build and manage new Commercialization Centers in some areas.
Although he did not specify whether North Brunswick would receive a center, Franzini said, “They will include multi-tenant facilities featuring labs or office space.”
The Innovation Zones will contain industry clusters centered around research universities.
Because of its proximity to Rutgers University in New Brunswick, McGreevey included North Brunswick township within the New Brunswick zone.
“North Brunswick’s proximity will create new partnerships between the community, businesses and Rutgers to better meet research and development needs,” McGreevey said.
The state will ensure universities do their best research in areas strategically targeted to benefit New Jersey’s high-tech companies, according to McGreevey.
McGreevey said the centers “will provide critical space and support services for early-stage and start-up businesses to conduct joint research.”
Businesses in the zones could qualify for financial incentives from the state including Business Employment Incentive Program grants, and Springboard and Technology Tax Certificate Transfer funding programs, which offer benefits to tech-based businesses in the zones, McGreevey said.
According to McGreevey, not just communities within the zones will benefit from his new plan.
“The universities themselves, our high-tech companies, entrepreneurs and surrounding communities will gain,” McGreevey said. “