Contracts Awarded

Expansions

Leaving Town

Deaths

Corrections or additions?

These articles by Barbara Fox were prepared for the September 10,

2003 issue of U.S. 1 Newspaper. All rights reserved.

Life in the Fast Lane

Don’t cry for the business employment incentive grants

any more — they’re back, and they’re better.

When Governor James E. McGreevey was slashing the budget earlier this

year, the Business Employment Incentive Program was one of the first

items cut. But the politicos have worked out a way to have their cake

and eat it too, changing the law so that, even in slim years like

this one, the BEIP will get funded. Now the New Jersey Economic

Development

Authority (EDA) can issue contract bonds to fund the program.

Here’s how it works: Participating businesses receive incentive grants

for creating at least 25 new jobs. The standard payment is 50 percent

of the state income taxes generated by the new employees, and the

award can go up to 80 percent for exceptional cases. "This is

one of the state’s best tools for attracting new businesses and

helping

existing businesses to expand and grow," says Philip Kirschner,

president of the New Jersey Business and Industry Association.

"Best

of all, the program pays for itself."

The new BEIP rules are good news for technology firms, which are now

allowed to bypass the minimum of 25 jobs that apply to all other

businesses.

Biotechnology firms and other high-tech businesses can create just

10 new jobs and still qualify for the program. This is of great

importance

to the high tech companies in Central New Jersey as shown by U.S.

1 Business Directory statistics: Three-fourths of the technology

companies

in this area have fewer than 50 employees, so they are much more

likely

to qualify for a BEIP grant under the new rules.

Supporters of the BEIP emphasize the "pays for itself"

provision;

no payments are made to the employer until the new employees work

one full year. Left unsaid is that if those new jobs were already

going to be created, and the incentives had not been promised, the

state would get to keep all of the employee-generated taxes.

Nevertheless, the evidence is strong that the BEIP does make a

difference

in persuading a company to move to New Jersey or stay here. "It’s

one of the factors that companies would consider if they were planning

to move to, or expand in New Jersey," says Glenn Phillips, EDA

spokesperson, noting that the BEIP grant influenced John Wiley & Sons

to bring 1,000 jobs from Manhattan to Hoboken.

This year the state gave out $38 million in BEIP grants, and Governor

McGreevey cites statistics that 3,906 jobs have been created in Mercer

County with BEIP funds. Overall, New Jersey has gained 35,000 jobs

this year in an economy where most states are losing jobs.

In announcing the new law, McGreevey visited Lexicon Pharmaceuticals,

which is working on therapies for obesity, Alzheimer’s disease, and

diabetes. Alan J. Main, senior vice president of Lexicon, has said

that the BEIP was an incentive for his company to move from

Princeton-Hightstown

Road to Lucent’s former building in Hopewell rather than going out

of state (U.S. 1, February 19).

New Jersey has upped the ante for Pennsylvania, making it more

attractive

for a company to leave Philadelphia. Before, the only taxes that

counted

for the grant were those paid by workers who lived in New Jersey.

(Under an agreement between the two states, those who work in New

Jersey and live in Pennsylvania pay Pennsylvania taxes.) With the

new rules, companies can be reimbursed for all the income taxes that

their workers pay, even if the tax is paid to Pennsylvania.

Says NJBIA’s Kirschner: "BEIP provides something that our state

and our economy needs-jobs. For every BEIP grant we fund, there is

a real person with a real family who gets a real job,"

— Barbara Fox

Top Of Page
Contracts Awarded

Orchid BioSciences Inc. (ORCH), 4390 Route 1 North,

Princeton 08543. Paul J. Kelly MD, CEO. 609-750-2200; fax,

609-750-6400.

Home page: www.orchid.com

Sherlock Holmes’ magnifying glass would be at a distinct

disadvantage in a modern solve-the-crime contest with the New Scotland

Yard, which uses the latest forensic techniques. The venerable British

detective agency, Metropolitan Police Service, has signed a three-year

contract with Orchid Cellmark to provide scene-of-crime forensic DNA

testing services. The deal, worth several million dollars a year,

is the largest ever awarded to a private laboratory in the United

Kingdom.

OrchidBiosciences has services and products for profiling genetic

uniqueness, including forensic and paternity DNA testing,

pharmacogenetics-based

personalized healthcare, and public health genotyping services. It

bought its way into the U.K. market with the purchase of a DNA testing

company in 2001, and now OrchidCellmark is the largest DNA forensic

testing service in the world. For this contract it will work with

U.K.-based Forensic Alliance. Orchid has a similar deal with the

police

in Houston, Texas.

Ranbaxy Pharmaceuticals Inc., 600 College Road

East, Suite 2100, Princeton 08540. Dipak Chattaraj, managing director.

609-720-9200; fax, 609-720-1155. Home page: www.ranbaxy.com

The Food and Drug Administration gave the go-ahead for Ranbaxy

Laboratories

to enter Ortho McNeil’s Floxin market, for treatment of mild to

moderate

infections. Ranbaxy will begin to sell its generic product, Ofloxacin,

this month.

A Ranbaxy subsidiary, Ohm Laboratories, has begun to market the

generic

equivalent to Schering’s Claritin, known as Loratadine.

Ranbaxy is a global generic pharmaceutical company, a division of

Ranbaxy Laboratories Ltd., based in New Delhi, India. It manufactures,

sells, and markets prescription and OTC pharmaceutical products.

Ranbaxy

has been selling generics in this country for five years and is now

the ninth largest maker of generics in the United States.

Princeton eCom Corporation, 650 College Road East,

Princeton 08540. Craig Kirsch, CEO. 609-606-3000; fax, 609-606-3297.

Home page: www.princetonecom.com

The company announced on September 8 that its current investors have

added $5 million to its coffers. They include Lazard Technology

Partners,

New Century Equity Holding, Mellon Ventures and Terra Lycos Ventures.

Founded in 1984, the company offers electronic payment solutions to

banks, billers and its partners.

"This latest round of financing provides our customers the

assurance

of financial stability that they are requiring and the financial

resources

we require to enhance our industry and technology leadership,"

says Craig Kirsch, Princeton eCom’s CEO.

Top Of Page
Expansions

Yardville National Bancorp (YANB), 4556 South Broad

Street, Box 8487, Trenton 08650-8487. Patrick M. Ryan, president and

CEO. 609-581-2809; fax, 609-584-5984.

Yardville National Bank has agreed to buy the Lawrenceville branch

of First Savings Bank. The price was not disclosed, but the branch

has deposits of $40 million.

Yardville has a deposit base of more than $1.4 billion, assets of

$2.35 billion, and Lawrenceville will be its 21st branch. If approved

by the regulatory agencies, the transaction will close by the end

of this year.

First Washington State Bank (FWFC), Route 130 and

Main Street, Windsor 08561-0500. C. Herbert Schneider, president and

CEO. 609-426-1000; fax, 609-426-9624. Home page: www.fwsb.com

First Washington State Bank is planning to open two branch offices

inside ShopRite supermarkets, one at Hamilton Market Place on Route

130 and another at Parkside Plaza on North Olden Avenue in EWing.

The community bank, which has 125 employees in Central New Jersey,

has obtained approvals from the FDIC and the state banking department.

Integra LifeSciences Holdings Corporation (IART),

311 Enterprise Drive, Plainsboro 08536. Stuart M. Essig,

president/CEO.

609-936-3600; fax, 609-936-2263. Home page: www.integra-ls.com

The 12-year-old biotechnology company just bought the patent portfolio

of Neuron Therapeutics — drug therapies for neurotrauma (disorders

of the central nervous system). Neuron Therapeutics, based in Malvern,

Pennsylvania, is in bankruptcy. The purchase was the seventh

acquisition

in 13 months.

In the past year Integra has bought two surgical instrument companies,

including one that focuses on burn reconstruction. In July 2002

Integra

bought a division of Boston-based NMT Medical. With the purchase came

a product line for managing hydrocephalus.

Princeton Communications Group Inc., 112 Titus

Mill Road, Pennington 08534. Lawrence H. Krampf, chief executive

officer.

609-818-9800; fax, 609-818-9213. Home page: www.pcgads.com

Princeton Communications Group has acquired New York-based Marke

Communications,

a direct mail and catalog firm that will now be an affiliate company

of PCG.

Marke is a full service direct response agency that specializes in

integrated marketing using both traditional and electronic media.

Among its clients are direct marketers, retailers, financial, and

business to business clients.

PCG now has a New York office at 45 West 45th Street. Nancy H. Becker

Associates, PCG’s lobbying division, has a Trenton office.

PPD Development (PPDI), 3575 Quakerbridge Road,

Neuman Building, Suite 201, Mercerville 08619. 609-528-8000; fax,

609-584-1802. Home page: www.ppdi.com

PPD Development, the clinical research operating subsidiary of PPD

Inc., moved its office from 15,000 feet on 1009 Lenox Drive to the

Neuman Building on Quakerbridge Road, which also houses the Children’s

Specialized Hospital. With 40 workers in 16,000 square feet, it offers

integrated drug development services.

When this organization first moved to Lenox Drive, it belonged to

Pharmaco International, a Texas-based CRO. Pharmaco was bought out

in the mid 1990s by Pharmaceutical Product Development. Now it is

part of PPD Inc., which is headquartered in Wilmington, North

Carolina,

and has more than 5,600 employees in 27 countries.

"With a global infrastructure, dedicated project teams,

cross-functional

therapeutic units, and innovative technologies, PPD Development works

with a worldwide commitment to quality to deliver strategic solutions

for preclinical programs, Phase I-IV clinical development, and post

market support," says Louise Caudle, director of corporate

communications.

What Caudle does not tell is the name of anyone in senior management

on Quakerbridge Road, because doing so would be against company

policy.

Top Of Page
Leaving Town

URS, 340 Scotch Road, Trenton 08618. 609-883-5444;

fax, 609-883-3413.

URS has left its Ewing offices. The global construction management

company has 25,000 employees in 300 offices. It has New Jersey offices

in Vineland, Florence, Cranford, Newark, Paramus, and Wayne.

Top Of Page
Deaths

Peggy Lewis, 86, on September 1. An artist, she co-founded

ArtsBridge, was assistant to the director of the New Jersey State

Museum, and publicist for the New Jersey Historical Commission (U.S.

1, December 20, 2000).

Jeffrey M. Simmins, 54, on September 2. He was an

educational

coordinator at Mercer County Vo-Tech Schools.

David Robbins, 61, on September 4, of pancreatic cancer.

He was a mathematician and cryptologist at the Institute of Defense

Analyses. Just before he died he was working at a 2,000-year-old

mathematical

problem: how to calculate the largest possible area of a polygon given

only the lengths of its sides. In 1994 he had discovered this formula

for pentagons and hexagons but was searching for the general solution

for all polygons.

Robert C. Welch, 72, on September 4. A poet and writer

under the pen name Salmon Ryder, he received a grant from the New

Jersey State Council on the Arts and was a longstanding member of

the U.S. 1 Poets & Writers Cooperative of New Jersey. For many years

he worked for attorney Kathryn Trenner.

Joseph M. Dantone, 75, on September 4. He was theregional

manager of finance for General Electric.

Richard L. Warren, 60, on September 6. He was a certified

financial planner.

Janet A. Mitchell, 70, on September 7, of a heart attack.

A fund-raising consultant and philanthropist, she published "The

Mitchell Guide: A Directory of New Jersey Foundations." A service

will be Saturday, September 27, at 3 p.m., at St. Matthew’s Episcopal

Church, Pennington.


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