New Jersey Commission on Science and Technology Awards $1.5 M To South Jersey Technology ParkFebruary 10, 2006
The New Jersey Commission on Science and Technology has awarded the South Jersey Technology Park at Rowan University a $1.5-million grant for the construction of a technology business incubator in the Innovation Center, the first building planned for the Technology Park campus, to be located at Rts. 55 and 322 in Mantua Township.
According to a resolution passed by the Commission, the organization?s goal for incubators is to create successful businesses and to generate high-technology jobs in the state ?by accelerating the time to market and improving the success rate of early-stage, high-growth ventures.? The Technology Park grant fulfills a commitment made by the Commission to support the project several years ago.
?The Technology Business Incubator will be a key component of our new Innovation Center,? said Dr. Anthony Marchese, project director. ?The Incubator will enable faculty and students to transform their research ideas into viable business opportunities. The ultimate outcome will be high-paying jobs for southern New Jersey.?
Designed to provide competitively priced, state-of-the-art facilities for start-up and established companies to bring innovative technologies to the marketplace, the Technology Park is expected to be a focal point for regional economic growth as it facilitates science and technology initiatives.
The newest university research park in New Jersey, the Technology Park is a public/private partnership that has received support from numerous organizations and individuals, including the New Jersey Economic Development Authority, the Rowan University Foundation, the Delaware River and Bay Authority, the New Jersey Department of Community Affairs and the County of Gloucester.
Ground is expected to be broken in spring 2006 for the Technology Park?s infrastructure. Construction of the Innovation Center is expected to begin in later in the year.
To learn more about the Technology Park, visit http://www.sjtechpark.com.