July 08, 2013
As seen in this article, "As New Jersey looks for new ways to attract and retain
high-paying jobs in a climate where seemingly every state competes for the same
or similar companies, legislators and pro-business forces are heavily promoting
collaboration between academia and industry as a way to attract investment and
cut the time it takes to get a product or process out of the lab.
Increasingly, the state is offering tax credits and other
incentives to encourage businesses to locate near universities. The result is
an 'innovation zone,' where institutions of higher education lend
research, facilities, and talent to neighboring companies, with the goal of
reducing time to market -- and time to profit.
Ted Zangari, a real estate attorney specializing in relocation and incentives and a board member of PlanSmartNJ, which released two of its own reports on innovation clusters and districts in the past year, is exuberant about the Economic Opportunity Act and the state’s new focus on collaboration.
'We come at it in grand style,' he said about the likely passage of some form of the act and the robust incentive packages it offers, 'We’re a little late to the process but we’re going to leapfrog all the states with which we’re competing.'”