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The New Jersey Life Sciences Vendors Alliance (NJLSVA) is a coalition of businesses, individuals and academia who provide goods and services to New Jersey’s life sciences companies.

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New Seton Hall, Hackensack Medical School Approved for $16.9 Million in Incentives

Roche seton and hackensackTrenton, NJ, November 17, 2015 ― Andrew George reports in NJBIZ that the future medical school of Seton Hall University and the Hackensack University Health Network received approval on November 13 from the state’s Economic Development Authority (EDA) for a 10-year, $16.9 million Grow New Jersey award.

The joint venture, which will be housed on the now-vacant former Roche corporate campus in Nutley and Clifton, was first announced last January.

In June, Seton Hall and Hackensack finalized the terms of their agreement, which calls for creating the first private medical school in the state.

According to the EDA, the $75 million project will create 271 full-time jobs and yield a net benefit of $67.6 million back to the state over a 20-year period.

The EDA did not perform an out-of-state alternative cost analysis test like it does with most Grow New Jersey applications because the proposed medical school project is constrained to state borders.

For George’s full NJBIZ story, click here.