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The Choose New Jersey-organized, Gov. Phil Murphy-led economic mission continues in Canada with a flurry of activity.
NJBIZ reported Monday on several key announcements from the start of the four-day, three-city trip. The expedition wraps up Tuesday in Montreal.
The delegation was on-hand Sept. 9 as RxSource announced the creation of new jobs (in assembly, packaging and distribution) at its upcoming 48,000-square-foot facility in West Deptford. The global leader in clinical trial services is relocating from its Secaucus facility.
At seven times larger than RxSource’s current space, the new West Deptford site is expected to be fully operational later this year.
“New Jersey’s thriving life sciences ecosystem remains an international leader through our collaboration with international partners, and Canada is no exception,” said Murphy. “The impact of new jobs in the industry will not only benefit the communities in West Deptford, but the international life sciences industry as RxSource continues their critical work across New Jersey and the world.”
“This expansion marks a significant achievement for RxSource and is a testament to our unwavering commitment to excellence,” said Yussuf Goolam, CEO of RxSource. “As we experience growing demand, we are excited to invest in a facility that aligns with our ambitious vision for the future. This new space, bolstered by the dedication of our team, partners and stakeholders, will enable us to fulfill our mission of improving patients’ lives.”
“We are so excited that RxSource is growing their footprint in New Jersey – bringing dozens of jobs to the state – as we strengthen our economic ties with Canada,” said Wesley Mathews, president and CEO of Choose New Jersey.
Collaborating across borders
Also, on Sept. 9, a Memorandum of Understanding (MOU) was signed between the Ontario Centre of Innovation (OCI) and New Jersey Institute of Technology (NJIT). The new partnership will support the growth of startups and subject matter experts in the life sciences, digital health solutions, artificial intelligence and advanced manufacturing industries.
“The collaboration between NJIT and the Ontario Centre of Innovation brings together two innovation incubators that will pioneer the future of science and technology while creating new job opportunities for New Jersey workers and families,” said Murphy.
🖋️ @OCInnovation and @NJIT signed an MOU, witnessed by @govmurphy, to support the growth of AI, life sciences, digitized health solutions, and adv. manufacturing startups and subject matter experts. More here: #NJCanadaMission pic.twitter.com/PVfxTVH973
— Choose New Jersey (@ChooseNJ) September 9, 2024
“As we look to the future and continue strengthening our economic ties with the U.S., this collaboration between OCI and NJIT will be pivotal in fostering conditions for growth and innovation, helping unlock the opportunities of tomorrow on both sides of the border,” said Ontario Minister of Economic Development, Job Creation and Trade Vic Fedeli.
“This MOU with the Ontario Centre of Innovation represents a significant step forward in fostering cross-border collaboration in key areas of technology and innovation,” said Teik Lim, president of NJIT. “At NJIT, we are committed to driving economic growth through innovation and research. By partnering with OCI, we are not only supporting startups and SMEs in New Jersey but also creating a bridge for knowledge exchange and commercialization opportunities that will benefit both regions. Together, we will accelerate advancements in life sciences, AI, digital health, and advanced manufacturing, shaping a future of shared prosperity.”
Financial hubs
Also Tuesday, Gov. Murphy addressed the audience during the Canada Fintech Forum in Montreal. Finance Montreal, Quebec’s financial hub, organizes the annual event. During it, Stevens Institute of Technology and Finance Montreal signed an MOU to strengthen the connections between fintech developments in the respective Montreal/Quebec and New York/New Jersey global financial centers.
Gov. Phil Murphy joined Jacques Deforges (far left), CEO of Finance Montréal, and Jianmin Qu (right), Stevens Institute of Technology’s senior vice president for academic affairs and provost, to witness the signing of a Memorandum of Understanding intended to strengthen the connections between fintech developments in the Montréal/Quebec and New York/New Jersey global financial centers. – PHOTO BY NICOLAS ABOU/PROVIDED BY CHOOSE NJ
“Our unmatched talent pool, access to capital, and digital infrastructure that sets the stage for innovation is why New Jersey is home to more than a quarter of the world’s top 100 fintech companies,” said Murphy. “Through our investment in innovation hubs and by building partnerships with other leading hubs like Montreal’s fintech ecosystem, New Jersey will remain at the forefront of innovation in the fintech space.”
“With its leadership in Quebec’s financial sector and its mission to promote innovation in fintech, Finance Montréal is a strategic partner for Stevens as we expand the impact of our fintech programs,” said Stevens President Nariman Farvardin. “Our leadership of the federally funded Center for Research towards Advancing Financial Technologies (CRAFT) and our partnership in the New Jersey Fintech Accelerator at Stevens (NJFAST), powered by Plug and Play, position us at the forefront of fintech innovation and education.
Close-up | NJ FAST
– PROVIDED BY RICH HUNDLEY III/NJ GOVERNOR’S OFFICE
The New Jersey Fintech Accelerator at Stevens Institute of Technology is a collaboration between the NJEDA and Plug and Play. It marks the first East Coast location for the iconic, Silicon Valley-based firm and innovation platform. Read more here.
“This international relationship will create a strong linkage between our respective regional financial centers, fostering knowledge exchange, growth and innovation in the rapidly evolving fintech landscape,” Farvardin added.
“Finance Montreal is proud to collaborate with Stevens Institute of Technology and the State of New Jersey to advance the development of financial technology and the Quebec fintech,” Jacques Deforges, CEO of Finance Montréal. “There is no doubt in our minds that, through the co-development of programs, research partnerships and with access to expanded networks of experts and venture firms, this collaboration will positively impact both the Montreal/Quebec and the New York/New Jersey global financial centers.”
Mitigating risks
BioNJ and BIOQuebec also signed an MOU Tuesday, to enhance cooperation and collaboration between the life sciences sectors in Quebec and New Jersey.
Officials say the strategic partnership will create opportunities for members of both organizations to access new resources, connect with international markets, and participate in events aimed at catalyzing innovation and growth in the biopharma and biotech industries.
“Across Quebec, the United States, and especially here in New Jersey, numerous companies have forged longstanding and well-established strategic partnerships,” said Debbie Hart, president and CEO of BioNJ. “Alliances, like the one between BioNJ and BIOQuebec, serve as catalysts for innovation, sparking new business ventures and fostering cutting-edge research collaborations. We are eager to bring our members together in a shared mission to elevate the life sciences sector, with the ultimate aim of accelerating the delivery of transformative medical breakthroughs to patients across the globe.”
Also during the economic mission, BIOQuébec, BioNJ and Choose New Jersey signed a Memorandum of Understanding that aims to enhance cooperation and collaboration between the life sciences sectors in Québec and the Garden State. – PHOTO BY NICOLAS ABOU/PROVIDED BY CHOOSE NJ
“We are excited to partner with BioNJ through this Memorandum of Understanding,” said BIOQuebec CEO Benoit Larose.
He said as the life sciences industry faces both unprecedented challenges and opportunities. And that it is crucial for trade associations like these to nurture strong relationships with international partners.
“Such collaborations not only mitigate the risks associated with volatile supply chains for industry but also create opportunities to generate value for our members,” said Larose. “This partnership will enrich the biotech sectors in both Québec and New Jersey through shared knowledge and initiatives, and it represents a concrete step towards expanding our industries’ influence abroad.”
ICYMI: ‘New Jersey continues to lead the way in life sciences innovation’
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“The partnership between BIOQuebec and BioNJ is a step forward in delivering crucial results to advance research and development, education, and overall growth by fighting for patients’ interests in New Jersey and beyond,” said Murphy.
“Choose New Jersey is proud to facilitate this powerful collaboration to bring together New Jersey and Quebec’s formidable life sciences sectors to bolster both economies,” said Mathews. “This agreement creates pathways for New Jersey’s biopharma and biotech companies to scale not only their businesses, but ideas, across the globe.”
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Publish date : 2024-09-10 08:05:00
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