Hunterdon County joins pharmaceutical hub to benefit employment opportunities and economic stability
HUNTERDON COUNTY, NJ – Hunterdon County is now officially a part of a regional consortium aiming to establish a pharmaceutical technology hub in New Jersey.
County commissioners recently passed a resolution of support that joined Hunterdon with other regional governments, businesses, and academic institutions seeking to gain funding from the U.S. Economic Development Authority (EDA), to further develop the pharmaceutical industry in the region and enhance the pharmaceutical job sector.
The effort, led by Rutgers University and the New Jersey Economic Development Authority, is a collaboration intended to foster innovation, research, and development within the pharmaceutical field. The resolution indicates that the establishment of this hub would benefit Hunterdon County residents by helping to create jobs and long-term economic stability.
Deputy Director and co-liaison for Economic Development Jeff Kuhl said, “We are excited to confirm our commitment as a member of the New Jersey advanced manufacturing Tech Hubs consortium. The Hunterdon County population is one of the most educated and skilled in the United States. Our workforce has been the engine for growth of New Jersey’s bio/life sector for many years and will continue to be so. We are grateful for the US EDA’s consideration of this application for designation.”
The funding for this technology hub would come from the federal Economic Development Administration’s CHIPS and Science Act, which allocated $500 million for the creation of hubs that aim to promote innovation and technology deployment. The goal of this program is to create clusters of businesses, communities, universities, and workers that will work together to accelerate technological advancements in the United States.
The Bio/Pharma hub will be just one of 20 technology hubs that EDA plans to develop across the United States. These hubs would serve as focal points for innovation and collaboration in various industries, including the pharmaceutical and life sciences sectors.
Commissioner Susan Soloway and also the co-liaison for Economic Development said, “Our area is uniquely situated for this technology hub, given our proximity to major cities like New York and Philadelphia, as well as accessibility to international airport traffic and major research universities.”
The application process for the creation of these hubs began in May and decisions on grant funding are likely to come before the end of 2023. New Jersey is up against other regions around the country for this designation and the associated funding.
Other Central Jersey counties in the consortium include Somerset and Union, as well as companies such as Bristol Myers Squib & BASF. Other local members include the Greater Raritan Workforce Development Board and Raritan Valley Community College.
