PHARMACEUTICAL/MEDICAL TECHNOLOGY CONSTRUCTION CREATES 34,000 JOBS AND $740 MILLION IN TAX REVENUES
Construction spending by New Jersey’s pharmaceutical and medical technology industries is estimated at $3.5 billion over 2007-2008, with research activity also reported at $7.9 billion for 2007. The estimates were provided by former Congressman Bob Franks, President of the HealthCare Institute of New Jersey, at a conference in Trenton sponsored by the Institute and the New Jersey Alliance for Action.

Franks noted that research spending for last year represented a $406 million increase over the previous year. He warned, however, that the pharmaceutical companies which have given New Jersey the nickname “Medical Chest of the World” face some difficult times based on losing patents on major products and the competition from generics, as well as the nation’s economic downturn.

Angie McGuire, Deputy Chief of Governor Corzine’s Office of Economic Growth, said 300,000 jobs in the state are supported by the life sciences industry. She emphasized that one of the advantages the companies enjoy in New Jersey is the fact that 60 million consumers are within a four-hour drive from New Jersey.
Aaron Fichtner, Director of Research and Evaluation for the Heldrich Center for Workforce Development at Rutgers University, reported that a recent study found that the $3.5 billion capital spending projected by the pharmaceutical/medical technology industries will result in 34,000 jobs and $740 million in local, state and federal taxes.
Philip K. Beachem, President of the Alliance for Action, said the pharmaceutical industry continues to be a dominant force in New Jersey’s economy and in generating vitally needed tax revenues for government.
Geoff Monk, Vice President of Global Engineering Services at Schering-Plough Corporation, said that consistent construction spending by his firm has totaled $1.4 billion over the last six years.
Brien Johnson, Vice President of Manufacturing at Baxter Heath Care Corporation, told the audience that Baxter’s total capital investment has been $130 million from 2001-2008.
Kevin Buckbee, Chief Financial Officer of Abbott Point of Care, said Abbott intends to consolidate three different locations in New Jersey into a new site in Forrestal Village in Princeton.
Richard Campbell, Director of Operations at StructureTone, a construction management firm, reported on a new headquarters in Princeton for Novo Nordisk, a Danish company. The five-floor building has a construction cost of approximately $20 million.

HEARINGS SET ON NEW JERSEY ENERGY MASTER PLAN
Public hearings on the proposed New Jersey Energy Master Plan have been scheduled as follows:
-July 10, 2008 --- Bureau of Public Utilities (BPU) office, 2 Gateway Center, Newark.
-July 17, 2008 ---South Jersey, at a location to be announced.
-July 22, 2008 --- State Department of Environmental Protection, 1st floor hearing room, 401 East State Street, Trenton.

Release of the final draft of the Master Plan is scheduled for the fall, 2008. The goal is to secure a reliable, environmentally conscious supply of electricity and heating fuel to meet the needs of New Jersey customers at a reasonable price. There would be ongoing annual assessments and the Plan would be updated every three years.

VOTERS APPROVE $73.75 MILLION IN SCHOOL CONSTRUCTION
Voters approved school construction projects in 12 of 15 districts for a total of $73.75 million in the election held in April. The projects rejected in three districts totaled $62.25 million.

The largest ballot question passed was in Egg Harbor Township, Atlantic County, for renovations to seven schools for $27,924,841. The biggest referendum rejected was by voters in Edison Township, Middlesex County, of $57,790,936 to build one new school and expand and renovate three schools.

The next school construction election will be on September 30, 2008.

SCHERING-PLOUGH ANNOUNCES LARGEST ROOFTOP SOLAR POWER INSTALLATION
Schering-Plough Corporation announced construction of the largest rooftop solar power system in the United States in partnership with PPL Renewable Energy. It will be a 1.7 megawatt green energy installation.

The rooftop-mounted solar electric system will be built on eight buildings throughout Schering-Plough’s campus in Summit. PPL will own, operate and maintain the system and supply power to Schering-Plough.

XANADU OPENING DELAYED UNTIL SUMMER OF 2009
The grand opening of the $2 billion Xanadu entertainment and shopping complex in the Meadowlands has been pushed back until the summer of 2009, instead of the previously announced schedule of November of 2008. The developer said the delay is due to interior construction work required by tenants.

Some real estate consultants say the slumping retail economy is hurting Xanadu’s efforts to attract tenants to the 2.2-million square-foot project.

The developer reports, however, that about 60 percent of the storefront space in Xanadu is already leased, including about a dozen anchor tenants and that the complex aims to have 225 to 250 tenants altogether.

XANADU REPORT TO FEATURE BERGEN ALLIANCE MEETING
Members of the Bergen County Alliance for Action will hear a report on the Xanadu project in the Meadowlands --- now scheduled to open in the summer of 2009. The presentation will be by Carl J. Goldberg, Chairman of the New Jersey Sports & Exposition Authority.

The meeting will be at the Pegasus-Hambiltonian Room at the Meadowlands Race Track on June 6th registration will begin at 8:15 a.m. followed by the program at 9 a.m.

Other speakers will include Robert. R. Ceberio, Executive Director of the New Jersey Meadowlands Commission, and Assembly Transportation Committee Chairman John Wisniewski, who also is Deputy Speaker of the Assembly.

Co-chairs of the Bergen Alliance are County Executive Dennis McNerney, J. Fletcher Creamer, Jr., CEO of J. Fletcher Creamer & Son, Inc., and Thomas Misciagna, President of the Bergen County Building and Construction Trades Council.
To register Go Here .

PEOPLE ON THE MOVE
-Michael Lapolla, Executive Director of the New Jersey Turnpike Authority, announced he will resign on July 1, 2008, to take a position at a private sector transportation company.
-Lt. Col. Thomas J. Tickner will succeed Lt. Col. Gwen E. Baker as Commander of the Philadelphia District of the U.S. Army Corps of Engineers at a ceremony on June 25, 2008, at Lincoln Hall of the Union League of Philadelphia, 140 South Broad Street.
-Erica Ferry, Senior Director-Public Affairs for Schering-Plough Corporation, was honored by the American Heart Association as “Woman of Distinction” at the Garden State Go Red for Women luncheon. She is a member of the Alliance for Action Board of Directors.
-Jeff Cruz of E.E. Cruz, Inc., was elected President of the Associated General Contractors of New Jersey. Also elected as AGC officers were Jeff Waters, Waters & Bugbee, Inc., Vice President; Brad Jorrey, J. Fletcher Creamer & Son, Treasurer, and Josh Benteon, Tilcon as Secretary. Trustee Tony Suppa was presented with the Richard L. Forman Member of the Year Award.
-Chris Ward has been nominated by New York Governor David Paterson as the next Executive Director of the Port Authority of New York and New Jersey.

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