JLL’s New Jersey 2016 Life Sciences Outlook highlights that the pharmaceutical/life sciences industry has become one of New Jersey’s leading economic engines within the last 130 years. The state claims the headquarters or operations for 13 of the 20 largest pharmaceutical/life sciences companies.
New Jersey’s appeal to some of the larges pharmaceutical/life sciences businesses is largely due to its highly skilled workforce, world-class universities and top teaching hospitals.
Northern New Jersey
Comprised of Bergen, Essex, Hudson, Morris and Passaic counties, the owner-occupied and leased R&D/lab inventory totals in Northern New Jersey are less than 3.8 million square feet. Roche, which once operated one of the largest concentrations of lab space in Clifton/Nutley, acquired Genentech, and after relocating its U.S. headquarters to San Francisco in 2009, closed the New Jersey campus in 2013.
Scheduled for 2017, Hackensack University Health Network and Seton Hall University plan to open the first private medical school in New Jersey in 50 years on part of the campus. The school will occupy approximately 500,000 square feet in two buildings.
Central New Jersey
More than three-quarters of the R&D/lab space in the state is located in Hunterdon, Mercer, Middlesex, Monmouth, Somerset and Union counties. More than 60 percent of the 12.5 million square feet is comprised of owner-occupied R&D/lab facilities used for research, manufacturing and support operations.
Read and download more about New Jersey’s Life Sciences 2016 Outlook.
Read and download the full U.S. Life Sciences 2016 Outlook Report.