From State Budget to Talent Networks to Biotech 2011

Published in Biolines July 2011

The beat never stops at BioNJ as we work to advance the biotechnology industry in the great Garden State.

Over the past month, we have been focused on the State budget process and the successful inclusion of two important provisions supporting our industry, and we were honored to have been named by the New Jersey Department of Labor and Workforce Development as one of six organizations to run special “Talent Networks.” In addition, we’ve been diligently planning with our partners at DelawareBio and Pennsylvania Bio for what is sure to be our best Biotech symposium yet.

 
And taking a broad look into the future of biotechnology, the Biotechnology Industry Organization (BIO) has just released a special whitepaper entitled Unleashing the Promise of Biotechnology. This call-to-action represents BIO’s five-year plan to reform the investment and regulatory environment and advance biotech innovation.

The policy proposals address two vital needs for ensuring robust biotechnology innovation and industry growth: 1) the need to reengineer the biotech economic model, and 2) the need to reinvent the idea-to-market pathway for biotech cures and other products. BIO plans to pursue these proposals by advocating for legislation, specifically by turning the relevant findings into language that will be used to advocate for introduction and passage of legislation.

New Jersey State Budget – Ensuring New Jersey’s Competitive Edge

As we all know, access to capital is one of the primary impediments to growth for startup and early-stage companies, making these provisions particularly important for sustaining emerging companies. BioNJ conceived of and advocated for the Technology Business Tax Certificate program, which was initiated in 1998, to help ease this impediment, and we are pleased to report that despite severe budgetary restrictions, Governor Christie and the State Legislature supported provisions that increase the pool for the Technology Business Tax Certificate Transfer program from $30 million allocated in 2011 to its 2010 level of $60 million.

In addition, legislation was approved that will increase the Research and Development Tax Credit rate from 50 percent to 100 percent by January 2012.

We commend the Governor and the Legislature for recognizing the potential of our industry to help New Jersey grow its economy. At a time of increasing competition among states, regions, and countries for biotech companies, reinstating the pool for the Technology Business Tax Certificate Transfer program to $60 million and increasing the Research and Development Tax Credit rate will foster additional medical research while sending a message to the competition that says New Jersey intends to find innovative ways to support and grow our biotech industry and retain our position as “The Medicine Chest of the World.”

BioNJ Named to Run Life Science Talent Network

BioNJ is both thrilled and honored to note that we were among six organizations named by the New Jersey Department of Labor and Workforce Development to run special “Talent Networks” that will work with New Jersey’s most promising industries to identify the skills needed by job-seekers to achieve long-lasting careers.

BioNJ will lead the Life Science Talent Network, and BioNJ’s Vicki Gaddy will continue as Director of the Network.

The goal of the “Talent Networks” is to connect businesses in the six key industries – Life Sciences, Transportation, Advanced Manufacturing, Financial Services, Health Care and Technology, and Entrepreneurship – with employers, potential employees, educational institutions, workforce development agencies, government, and community groups to identify the skills and training Garden State employers require in prospective employees to remain competitive in the global market and to offer services and programs that will help employers and employees find each other. By being trained in those skills, students and job-seekers will be able to find long-term jobs in New Jersey and help to boost the state’s economy.

We are also humbled to note that much of the work that BioNJ has done over the past 3 years in the areas of talent solutions and workforce development has served as model for the development of this new initiative, and we thank Labor Commissioner Harold J. Wirths and his team for their confidence in BioNJ.

You can read more about the Talent Networks in the BioNJ Headlines section, and make sure to look into the great variety of current job opportunities listed in the BioNJ Life Sciences Talent Network section.

Biotech 2011 – A New Take on an Old Friend

Following a successful BIO International Convention in Washington, DC, our team now turns its attention to planning Biotech 2011 Imagine Collaborate Innovate, taking place October 24-25 in Philadelphia. Registration is now open.

While this highly successful symposium is now in its eleventh year and has become like an old friend for our region’s biotech industry, this year we have been taking a whole new approach to the conference and its offerings. Our industry is evolving, your needs are changing, and we have responded by adding innovative new features and sessions.

Among the most exciting features for this year’s meeting include a keynote address on Monday, October 24 by Dr. Michael Rosenblatt, Executive Vice President & Chief Medical Officer of Merck & Co., Inc. Additionally, we have taken the feedback provided in years past and will be offering new topics and educational tracks, such as “Hot Topics for Scientists” and “International.”

Another new offering – the Innovation Forum, taking place on Tuesday, October 25 – is a fresh take on a group of our already successful features. It combines the Innovation Corridor, Company Showcase, and the new Funding Luncheon to provide access to business development experts, funding organizations, and industry leaders. Poster presentation applications are now being accepted for the Company Showcase for companies wishing to pursue industry and/or financing partnerships. The application deadline is September 2, 2011.

Our goal is to make our annual symposium the premier bioscience conference in the region by attracting top bioscience leaders, including leading executives, venture capitalists and other investors, university researchers, and government officials. Registration is now open at www.Biotech2011.org. We hope we can count you among the attendees.

We will have many more exciting announcements to share over the next few months regarding Biotech 2011 and other new initiatives, so stay tuned for more details. Our commitment to the biotechnology industry and our members runs deep, and the beat never stops.

Yours in BioNJ,

Debbie Hart

P.S. I hope you will enjoy the new Biolines format. Our goal is to provide you with even more important information about the biotechnology industry in New Jersey in a lively, more user-friendly format. We welcome your comments and suggestions for even more improvements at BioNJ@BioNJ.org.