Pharmaceutical and life sciences companies have long regarded the Garden State as a prime North American location. The state was second in the nation to enact legislation to fund stem-cell research. And it offers life sciences companies unequalled competitive life science advantages at the heart of the Eastern Seaboard's pharmaceutical-life sciences corridor:
• an established, cutting-edge infrastructure;
• the largest concentration of life sciences service providers in the world;
• an outstanding university system with world-class research universities;
• geographic proximity to major financial centers.
Understanding that New Jersey is attractive to life sciences companies, and that expansion of the industry is vital to the state's future economic growth, Public Service Electric and Gas Company (PSE&G), New Jersey's largest electric and gas utility, has focused much of its efforts on attracting life sciences companies to New Jersey. For more than 75 years, PSEG Area Development LLC has been committed to economic development in the state, and plays an active role in nurturing and growing the life sciences sector in New Jersey. Its team of economic development and real estate professionals has become exceptionally experienced in dealing with the particular needs of life sciences companies.
• Real Estate Assistance: PSEG SiteFinders LLC, a licensed real estate subsidiary of PSEG Area Development, enables client companies to benefit from a statewide network of top-quality real estate brokers and related experts. Clients are able to take advantage of in-depth knowledge of New Jersey's complex real estate submarkets. Whether your firm is expanding or relocating, leasing, purchasing, selling, or subleasing, PSEG SiteFinders LLC can help find the right location, identify available properties, and ensure the very best deal.
• Net Operating Loss Transfer Purchases: This innovative program allows new and expanding life sciences companies to turn their tax losses and credits into cash to grow their businesses. Under this state program, approved businesses may "sell" their unused net operating loss carryforwards and unused research and development tax credit carryforwards for at least 75 percent of the value of the tax benefit. PSE&G has been the single largest purchaser of these "NOLs" since the program began, and PSEG Area Development LLC offers sellers major advantages:
* ‡ PSE&G is the buyer, not a middleman or broker;
* ‡ PSE&G has no hidden or additional fees imposed on the seller;
* ‡ PSE&G treats all sellers fairly and equally;
* ‡ PSE&G is committed to quickly completing each step of the certificate transfer process.
• Economic Development Assistance: Whether or not your firm already works with a real estate professional, PSEG Area Development Services can add value by identifying and maximizing state business growth and life sciences incentive programs. These services can also include assistance with debt and equity financing arrangements, engineering services, and office design and furniture solutions.
PSEG Area Development LLC's consultation and help are confidential and without obligation. Please contact us for more information.
New Jersey - where research, commercialization, and state support flourish in unison.
Timothy R. Comerford, President
PSEG Area Development LLC
80 Park Plaza, 10C
Newark, NJ 07102
Tel: 877-241-0692 or 973-430-6458