State officials have approved tax credits meant to help three pharmaceutical firms grow the industry’s footprint in New Jersey, while also dangling a nearly $40 million incentive to keep a global life sciences giant from pulling its U.S. headquarters out of the state.
Industrial
Owning or leasing industrial space in New Jersey means you’re within one day’s drive of one-third of the nation’s population. That means the state continues to be a hotbed of warehouse and logistics activity.
Garden State drawing more industrial tenants from NYC boroughs
Companies from Brooklyn and New York City’s other outer boroughs are increasingly taking industrial space in New Jersey, brokers say, whether they are expanding beyond their original business locations or looking for a new home altogether. The trend is adding to the already surging demand in the market for warehouse and distribution space in the Garden State.
