In New Jersey as in Philly, food and pharma still reign, and the New Jersey Economic Development Authority wants to keep it that way. In 2005

The South Jersey Port Corp. in February signed an agreement with Gloucester County to redevelop this BP/Dow Chemical site in Paulsboro.

the agency provided more than $230 million in assistance for the location and expansion of life sciences and technology companies. Among the projects to benefit is Novo Nordisk's new hemostasis research center at the Technology Centre of New Jersey in North Brunswick, and the $116-million new headquarters for Novartis in East Hanover.
   In addition to retention incentives received for the project, Novartis will benefit from a $5.8- million Business Employment Incentive Program (BEIP) grant that is based on the creation of 250 additional jobs over the next 10 years.
   Overall in 2005 the NJEDA provided more than $623 million in various project assistance packages, more than double the 2004 total. Such public investment has been backed by a study conducted by the Edward J. Bloustein School of Planning and Public Policy at Rutgers University that found that businesses receiving BEIP grants generate nearly $350 million in additional state tax revenue annually, representing over a 3.7-to-1 return on investment.