According to a press release from the Governor’s office, a recent review issued by Business Facilities magazine reported that New Jersey jumped eight positions to rank second for biotechnology strength among U.S. states.
Some of the factors cited as responsible for this improvement include increases in R&D tax credits (from 50% to 100%) and the adoption of a new single sales factor formula for corporate tax liability, which will reduce company costs.
This development follows the 2011 Jones Lang LaSalle report that identified the biotech region of New Jersey/New York as the Number 2 region behind Boston. The report further forecasts a bright future for the life science industry for this region.
There to meet these expanding biotech clients’ needs, the Gibbons Intellectual Property Group offers the largest intellectual property group among all general practice law firms in New Jersey, including ranks of attorneys with life sciences experience prepared to counsel on all aspects of IP law. Bill Epstein, Charlie Gaglia, George Gould, David De Lorenzi, Sheila McShane, Hain Swope, Estelle Tsevdos, Lisa Wang, Charles Chevalier, Jay Cahill and Jillian Centanni, among others, bring diverse and deep industry and legal experience to the firm’s IP practice, with vast acumen in handling issues from IP clearance, procurement to enforcement, monetization and litigation.