2005 News

Economic Impact Report: HINJ Members Bolster State’s R&D Efforts, Industry Investments Up $1 Billion

NJ’s Pharmaceutical & Medical Technology Industry Report Finds Healthy Drug, Device Pipeline

R&D spending of $4.7 billion

Payroll Impacts of over $6.6 billion

Average base salary is $110,017

Capital Construction Projects of $1.35 billion

Industry produced 151,000 jobs –60,000 direct + 91, 000 spin-off jobs

Charitable Contributions totaled $133 million

$617.6 M in sales tax and income tax impacts on NJ

Overall Economic Impact of $22 billion

Hillside, NJ June 9, 2005 — New Jersey’s pharmaceutical and medical technology industry continues to be a key driver of the state’s research and development community, contributing $4.7 billion to R&D activity in 2004, according to a study released today by the HealthCare Institute of New Jersey (HINJ), the industry’s trade association.  The study commissioned by HINJ and conducted by Deloitte, surveyed 23 HINJ member companies on a variety of key economic indicators. Read more

 

State’s Key Economic Incentive Programs Foster High Tech Jobs

By The Honorable Bob Franks, President, HealthCare Institute of New Jersey

Hillside, NJ, May 24, 2005 —The life sciences have clearly become the leadership industry of New Jersey.  Our rank as the state with the most scientists and engineers per square mile has helped cement this status.  And, you merely need to look at the pharmaceutical, medical technology and bio-tech companies moving into New Jersey as evidence of our pre-eminent place in the life sciences. New Jersey is the global epicenter for research and development. Read more

 

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