Establishes innovation zone program to stimulate technology clusters around New Jersey's research universities, colleges and research hospitals.

A-830 (Chivukula) / S-1445 (Baroni)

Status: Introduced and referred to Assembly Commerce & Economic Development Committee / Introduced and referred to Senate Economic Growth Committee.

Summary - This bill would create three innovation zones located in Camden, Newark, and Greater New Brunswick to attract high-technology businesses and researchers to these areas. The NJ EDA would be required to modify BEIP, the Seed Capital program, the Springboard Fund, the Technology Tax Certificate Transfer Program, the Garden State Life Sciences Venture Fund, and other technology funding programs to give bonuses or enhanced incentives to businesses that locate in an innovation zone. The proximity to research universities and colleges and research hospitals will increase collaborative research efforts between the academic communities and New Jersey's technology industry, resulting in business and job growth.

Position - The NJTC SUPPORTS this legislation because New Jersey must continue to foster the creation of high-quality jobs that will sustain New Jersey's status as one of the top destination states for technology companies.