New Jersey is respected globally for its strength in the biopharmaceutical and medical device industry. The State is home to 14 of the world's 20 largest pharmaceutical companies, including Novartis, Johnson & Johnson, Bristol-Myers Squibb, Merck & Co., Novo Nordisk and Bayer Healthcare. Furthermore, New Jersey boasts a well-educated workforce with a high concentration of scientific professionals. Each year, 22,000 students graduate with degrees in the life sciences from the State's 66 colleges, universities and technical schools-ready to work at New Jersey pharmaceutical companies. New Jersey also offers six higher education institutes that offer graduate and post-graduate degrees in biomedical and healthcare fields and 11 schools that confer doctorates for science, technology, engineering and mathematics.
- World-class research institutions include 13 teaching hospitals and three medical schools.
- The State's R&D tax credit is 100% of a company's corporate tax liability.
- The State's Talent Network initiative links businesses and education institutions with job seekers.
- Incentive grants for job growth and tax exemptions to help with relocation enhance the State's desirability for pharmaceutical companies.
- The State's concentration of medical institutions, population density and transportation infrastructure make it ideal for clinical trials.