1100 Campus Road in Plainsboro
By Joshua Burd
A global medical technology maker has proposed relocating within Plainsboro to a nearly 167,000-square-foot building once occupied by Novo Nordisk, thanks in part to a 10-year, $17.8 million tax credit approved last week by state officials.
The company, Integra LifeSciences Corp., has told the state it was considering the move to 1100 Campus Road under a lease that would include 8,000 square feet of research and development space. In an application to the Economic Development Authority, the company said it would lease the building for nearly 16 years with three five-year renewal options.
Integra has also certified that more than 600 jobs are at risk of leaving the state when its current lease expires in December 2019, the EDA noted, prior to approving the $17.8 million Grow New Jersey tax credit last week. The company, which is currently headquartered at 311 Enterprise Drive in Plainsboro, was also considering an alternative location in Warminster, Pennsylvania.
Representatives for the company did not return requests for comment on the move.
A recent market report by CBRE indicated that Integra had signed a lease at 1100 Campus Road, highlighting it as the state’s largest office lease of the first quarter. The deal would call for the company to occupy the entire building, which was listed for sublease in late 2016 by Novo Nordisk.
The Danish pharmaceutical giant vacated the space as part of a move to its new North American headquarters at 800 Scudders Mill Road in the township.
Integra, which was incorporated in 1994, employs more than 4,000 people worldwide. EDA officials said the company has a broad portfolio of implants, devices, instruments and systems used in neurosurgery, neuromonitoring, neurotrauma and related critical care.
In the U.S., Integra is a leading provider of surgical instruments to hospitals, surgery centers and alternate care sites, including physician and dental offices, the EDA said. The company has proposed a nearly $15.9 million capital investment at 1100 Campus Road that would include a fit-out of office and R&D space and the purchase of lab equipment, office furniture and IT servers.
The EDA cited a location analysis that shows New Jersey to be the more expensive option over Pennsylvania. The authority also projected that keeping Integra in New Jersey would have a net benefit to the state of $127 million over 20 years.
In addition to retaining 608 jobs, the company has told the state it would also create 80 new positions. The tax credit offered by the EDA includes bonuses for meeting criteria such as a being a life sciences business and having jobs with a salary above the county average.