The state’s 18.2 million-square-foot lab inventory and deep talent pool (No. 2 of all markets) land it No. 4 on the real estate firm CBRE’s rankings.
CBRE: N.J. Ranked Top Among U.S. Life Sciences Clusters
The life sciences industry and the real estate it occupies has positioned various hubs, including New Jersey, for continued expansion, according to a new report from CBRE. That growth, CBRE said, has pushed several markets into its ranking of the top established and emerging life sciences hubs.
New Jersey Has All the Ingredients to Grow an Innovation Economy
According to Jim Pytell, “Throughout history, New Jersey has become synonymous with innovation – and rightfully so. The state was the workplace of Thomas Alva Edison – universally lauded as the greatest inventor ever. It is the birthplace of the transistor, band aid and motion picture camera, to name just a few examples. The state is also home to nine-time Nobel Prize winner Nokia Bell Labs, which is currently working on the next generation of internet technology.”
Useful Stats: Distribution of R&D Performance by State
Nearly three-quarters of all research and development was performed by the private sector in fiscal year 2016, though this share differed greatly across the states, according to an SSTI analysis of recently released data from the National Science Foundation’s National Center for Science and Engineering Statistics (NSF NCSES). Delaware showed the greatest concentration of business R&D (90.5 percent of all R&D in the state), while Tennessee had the most diversified R&D portfolio with a roughly even distribution of R&D performed by businesses, higher education and federally funded R&D centers (FFRDC’s).
The Future Remains Bright for Redevelopment in Newark
The collaboration and efforts that got Newark to be seriously considered for Amazon’s headquarters have been – and will continue to – play a vital role in the continued transformation of the city, but there are also existing physical assets the city possesses that make it an attractive place to live, work and play.
Princeton U’s New DataX Pilot Program to Push Limits of Data Science
Princeton University has announced it plans to “push the limits of data science by leveraging artificial intelligence and machine learning” through a pilot project. The project, The Schmidt DataX Fund, was made possible by a major gift from Schmidt Futures. “The Schmidt DataX Fund will accelerate Princeton researchers’ use of artificial intelligence and machine learning to explore questions at the frontiers of human knowledge.
Cross River Brings Innovative Approach and 255 New Jobs to Fort Lee
Cross River Bank, a New Jersey financial institution known for its innovative use of new technology, is expanding in the Garden State with support from the New Jersey Economic Development Authority (NJEDA). The bank has acquired a 70,000-square-foot facility in Fort Lee, which will be home to 200 employees from the bank’s current Fort Lee headquarters, along with an additional 250 new employees it plans to hire.