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New Jersey sees biotech growth
September 2012
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TRENTON, N.J.—The biotechnology industry in New Jersey has posted a 13-percent increase since 2010, with the number of New Jersey biotech companies growing from 300 in 2010 to 340 through June of this year, according to the latest survey from industry trade group BioNJ. In addition, jobs for the industry rose 9.3 percent, with employee levels reaching 16,400, and 71 percent of companies surveyed reported plans to hire more employees by the end of the year, said Debbie Hart, president of BioNJ. The survey, a collaboration between BioNJ and Ernst & Young, noted that the growth continues in spite of downsizing and cases of large companies, such as Hoffmann-La Roche, leaving the state. Hart added that the state legislature is considering establishing an angel investment tax credit to attract investors.



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