NJ Gubernatorial Candidates square off over biotech

The Record asked the gubernatorial campaigns of Democrat Jon S. Corzine and Republican Douglas Forrester to respond to questions about public investment in biotechnology. acting Governor Codey is not seeking a full term and will leave office in January.

Do you support using state taxpayer money to finance embryonic stem-cell research?

Corzine: "Jon Corzine supports the investment of public funds in embryonic stem-cell research partnerships with the private sector. The Edison Innovation Fund proposal that Corzine outlined ... would include funding for embryonic stem-cell research, among other types of research and development activities.

"The fund initially would be created through a combination of the proceeds of a voter-approved bond initiative, and the reallocation of underperforming economic development programs scattered throughout 16 separate agencies of state government. The fund would also leverage additional private-sector investment and research funds from the National Institutes of Health, the National Science Foundation and other federal agencies that support research and development. Also, in some cases the state would seek shared ownership of patents and could then use the returns to help replenish the fund in the future."

Forrester: "Philosophically I believe that we can have public financing of existing embryonic stem-cell lines and financing for adult stem-cell research. I am concerned, however, that we do not have the public resources available at this time.

"As our state's economy and revenue stream improves, we should explore these opportunities further. We must work with the pharmaceutical industry in New Jersey to create incentives for stem-cell research in New Jersey - nurturing the important research capabilities of our state, keeping world-class scientists in the state and developing the economically effective nexus of education and biotechnology research."

Corzine: "Jon Corzine strongly supports biotech investment by the state, but he will make sure that the state gets a share of the profits from its investments."

Forrester: "We need to create innovative methods of public investment to continue to be one of the leading biotechnology clusters in the world. This can be best accomplished by fostering public-private partnerships with government, institutions of higher education, industry leaders and start-ups."

Do you support direct state subsidies and tax transfer programs to companies that conduct biotech research and development?

Corzine: "[Corzine] is committed to doing what it takes to attract and retain high-wage jobs in New Jersey. Any tax incentives or grant programs will be measured against their return on investment to the state's taxpayers, employers and workers. In order to attract and retain businesses, Jon Corzine supports tax-incentive programs, such as the Business Employment Incentive Program that since its inception in 1996 has provided more than 200 grants worth approximately over $650 million, supporting the creation of an estimated over 47,000 new jobs. Many of these firms have been in the biotechnology sector.

"Jon Corzine also supports the Workforce Development Partnership Program that provides customized training programs to help upgrade the skills of workers in high-growth industries, including the biotechnology sector."

Forrester: "We need to develop creative tax strategies that enable biotech industry leaders and start-ups at various phases of their life cycle to survive and prosper in New Jersey. We have to help such enterprises, for example, to take advantage of tax losses. In recent years, the state has created a hostile environment for growing enterprises in all fields and we must correct that."

Doug, you're going to cut taxes by 30% AND fund biotech on top of that?

Why don't you just be a republican and let the private sector fund thier own research.

I hope he's listening, Coleus.

And, while he's at it, maybe he can work on cutting NJ's eminent domain abuse...

2 posted on 06/26/2005 9:50:48 PM PDT by Tired of Taxes (News junkie here)

I got a feeling Forrester is going to botch this up again.

Seems like the democraps have all the slick shyster politicians. We can't even field a candidate with moral character to counter the amoral dems.

4 posted on 06/26/2005 10:39:04 PM PDT by MHGinTN (If you can read this, you've had life support from someone. Promote life support for others.)

The big government liberal versus the outright socialist.

Why should I even pretend to care which one wins?

5 posted on 06/26/2005 10:42:55 PM PDT by dead (I've got my eye out for Mullah Omar.)

The big government liberal versus the outright socialist. Why should I even pretend to care which one wins?

So... who are we all going to vote for? So far, I have no intention of pulling the lever for Forrester.

6 posted on 06/27/2005 6:39:14 AM PDT by Tired of Taxes (News junkie here)

I find it highly disturbing that Jon Corzine refers to himself in the third person. As we've learned from the public spectacle of Rocket Ismail, talking in the third person leads to egomaniacal rantings at press conferences. The possibility Corzine will go berserk at a press conference at an orphanage, is Forrester's only chance for victory.

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