$100 Million R&D facility opening at Rowan University NJ
Rowan University, together with the senate president, Steve Sweeney, and lieutenant governor, Kim Guadagno, have announced that the Spanish multinational veterinary pharmaceutical company, HIPRA, will establish its North American headquarters in South Jersey Technology Park at Rowan University, New Jersey.
HIPRA will purchase 25 acres of the technology park’s 180 acres on Rowan’s west campus and invest $100 million into building the 375,000 square ft research and development facility, which will create over 200 new high-technology jobs.
“The United States is a critical market for our firm and its continued growth, the South Jersey Technology Park will provide the company with an ideal location to expand its operation in the United States and distribute its products worldwide. ” said Arnau Nogareda, HIPRA’s managing director.
According to Nogareda, the technology park was selected after evaluating numerous first-class host sites and consideration of research that had already been carried out, which showed to be impressive, particularly in the areas of science and engineering.
It is anticipated that by establishing the North American research headquarters in New Jersey, HIPRA will create short and long-term employment opportunities in diverse fields, such as construction and biomedical engineering. In addition, the facility also plans to open the door to spin off companies, benefit local businesses that will serve its employees, and will be especially valuable for the faculty and students working in the sciences, engineering and business.
HIPRA’s r&d technology park will be an excellent fit for the University’s overall goals, as it will attract new partnerships that provide opportunities for the faculty, and will allow students to conduct and produce real life research that will help to further develop the regional economy.
The HIPRA and Rowan University board are excited about the future outcomes resulting from the collaboration and are thrilled to be able to grow the concept of R&D projects in New Jersey, in hope it will spark encouragement for other companies to do the same.
To find out whether your company’s activities may qualify for the R&D Tax credit, contact Swanson Reed R&D Tax Advisers.