A nonpartisan task force made up of state lawmakers and experts from the biotechnology industry is recommending several policy changes for New Jersey so the state can reclaim its standing as a national leader when it comes to innovation.
The recommendations, put forward in amade public yesterday, include revamping existing tax-credit programs and creating new ones to help foster more breakthroughs. The task force is also calling for more emphasis on so-called translational research that leads to the creation of new medicines and medical devices, and better marketing of the state as a key location for life-sciences firms.
The report culminates more than a year of work by the nine-member panel, overlapping the tenures of two different governors. Some of its proposals, like re-establishing a commission on science and technology within state government, are already being pursued by lawmakers.