Life Sciences Firm Relocating to Jersey City
Intrasphere Technologies, which provides consulting services to the life sciences industry, plans to relocate its offices to Jersey City, NJ next month, the Star-Ledger reports. The company intends to move 120 existing jobs to offices in the Harborside Plaza 10 building and plans to add another 180 jobs over the next two years.
The New Jersey Economic Development Authority awarded the company a grant worth $12.4 million over the next 10 years (the money is paid out to the company as it creates the new jobs). Â Intrasphere plans to invest $965,000 in the relocation project.
â€œNew Jersey has made it clear to us that they are interested in our business and in helping Intrasphere to grow,â€™â€™ Samuel Goldman, the company’s co-founder and its chief operating officer, said in a press release issued by the economic development authority. â€œAs a life sciences-focused company, itâ€™s encouraging to be in the same state that many of our clients call home.â€™â€™
Goldman said the stateâ€™s Business Employment Incentive Program grant â€œwas a key factor in having us make this decision.â€™â€™
Intrasphere, which was started in 1996, provides software and business services to life science companies, addressing such areas as drug safety, regulatory and business intelligence. In addition to its corporate offices, the company has a location in London.