The Edison Innovation Zones throughout the state encompass state universities, research institutions and related businesses. The zones include areas within the cities of Camden and Newark and the Greater New Brunswick Area. The Edison Innovation Zones are a collaborative state effort involving the EDA, the New Jersey Commission on Science and Technology and other state agencies.
These "technology neighborhoods" are designed to spur collaborative efforts and encourage the rapid transfer of discoveries from the laboratory to the marketplace. Enhanced financial incentives are available to eligible technology and life sciences businesses locating in these zones. Each zone also features a commercialization facility to provide specifically designed office and lab space for these early-stage growth companies.
- Additional funds through the Technology Tax Certificate Transfer Program, which allows eligible technology companies to sell net operating losses to profitable companies (Of the $60 million allocated to the program annually, $10 million will be set aside for additional funding under the program to approved projects in the Edison Innovation Zones.).
- A boost to the scoring formula under the Business Employment Incentive Program (BEIP), resulting in a higher grant amount. Under BEIP, qualified companies relocating or expanding in New Jersey are provided a cash grant based on the tax withholdings of new jobs created, as well as additional scoring criteria.
In addition, companies have access to all of NJ EDA initiatives, including low-cost financing and technical assistance
The Technology Centre of New Jersey, located in North Brunswick within the Greater New Brunswick Edison Innovation Zone, is now home to approximately 20 growing early-stage and established businesses that occupy about 400,000 square feet of top-quality, customized, competitively priced laboratory, production and office space. More than $100 million has been invested in facilities and improvements at the 50-acre property along U.S. 1.
The EDA has built on its success with the CCIT by developing the Tech One Building on its Waterfront Technology Center at Camden in the city's Edison Innovation Zone. This 100,000 square feet of Class A office and technology space is suitable for both established businesses and startups in the biosciences, microelectronics, advanced materials, information technology and other high-tech fields. The five-story, contemporary glass and metal building offers affordable production, laboratory and office space that can be customized in flexible unit sizes and configurations to handle individual operating requirements and special needs of tenants.
Currently in design is the Digital Century Building in the Newark Edison Innovation Zone. Working in conjunction with University Heights Science Park, the EDA is currently involved in conceptual design and cost estimating. Conceptually, the building will be a speculative, mixed-use, technology-based facility ranging between 75,000 square feet and 100,000 square feet. The mixed uses that are currently being considered generally include retail, office, and IT related laboratory space.
- The New Jersey Commission on Science and Technology funded incubators provide small firms with a variety of services in a business- and technology-friendly environment.
- The commission will help strengthen relationships between university researchers and area high-tech business.
- Funding will be available for early "proof-of-concept" commercialization research at universities.
- Technical assistance will be provided to early-stage companies applying for SBIR grants.
- Access to research talent through Technology Fellowship Program
- Partnerships between industry and universities will provide industry researchers access to university labs and will place students in industrial labs.
- Collaborative research facilities, such as the new Stem Cell Institute will provide strategic cooperation.