Hopewell Township, Mercer County, NJ - Hopewell Township is pleased to announce that BeOne Medicines is making a $300 million investment to expand its Princeton West Innovation Campus, reinforcing the Township's position as a growing hub for life sciences, innovation, and advanced manufacturing.As part of the expansion, BeOne Medicines has received approval from the New Jersey Economic Development Authority (NJEDA) for a Next New Jersey Manufacturing Program Award. The incentive program is designed to encourage large-...
Hopewell Township, Mercer County, NJ - Hopewell Township is pleased to announce that BeOne Medicines is making a $300 million investment to expand its Princeton West Innovation Campus, reinforcing the Township's position as a growing hub for life sciences, innovation, and advanced manufacturing.
As part of the expansion, BeOne Medicines has received approval from the New Jersey Economic Development Authority (NJEDA) for a Next New Jersey Manufacturing Program Award. The incentive program is designed to encourage large-scale manufacturers to invest in New Jersey, create high-quality jobs, strengthen key industries—including life sciences and pharmaceuticals, clean energy, advanced manufacturing, defense, and food and beverage manufacturing—and foster long-term partnerships between manufacturers and New Jersey educational institutions. Through the program, eligible manufacturers may receive tax credits of up to $150 million per award.
The expansion will add a three-story, 145,000-square-foot manufacturing facility to the campus, bringing new small-molecule manufacturing capacity to a site that currently specializes in biologics production. Once complete, the Princeton West Innovation Campus is expected to encompass 545,000 square feet.
The investment is expected to create 120 new high-paying jobs, further strengthening the local economy while supporting BeOne Medicines' mission of developing and manufacturing life-saving cancer treatments for patients around the world.
"This is another big step forward on economic development in Hopewell Township," said Mayor David Chait. "BeOne Medicine's latest investment at the Princeton West Innovation Campus will bring 120 high-paying jobs to our community and broaden our economic base. We would like to thank Governor Mikie Sherrill and the NJEDA for their support in making this possible."
The Princeton West Innovation Campus officially opened in July 2024 following an $800 million investment, marking one of the largest life sciences investments in the region. This latest expansion represents another significant milestone in the continued growth of the campus and Hopewell Township's thriving biotechnology sector.
"BeOne Medicine's $300 million investment at the Princeton West Innovation Campus is the culmination of 10 years of work in the redevelopment of the former Bristol Myers site," said Hopewell Township Committee Member and Finance Liaison Kevin D. Kuchinski. "We're proud to work with BeOne and to support their mission of bringing life-saving new cancer treatments to the world. This investment will further diversify our tax base and help reduce the burden on residential taxpayers."
Formerly home to Bristol Myers Squibb, the redeveloped Princeton West Innovation Campus continues to evolve into a world-class center for pharmaceutical research and manufacturing, bringing quality jobs, innovation, and long-term economic benefits to Hopewell Township and the surrounding region.
For more information on BeOne Medicines’ expansion, please visit: https://binje.com/sectors/health-care/beone-medicines-adds-300m-to-hopewell-campus-pushing-n-j-investment-past-1-billion/.