The New Jersey Economic Development Authority (NJEDA) Board has approved Aspire Program tax credits to support the second phase of the New Jersey Health + Life Science Exchange (HELIX) in New Brunswick. The 10-story, 370,000-square-foot building, known as H-2, will serve as a hub for research and development, with Nokia Bell Labs as its main tenant.
Governor Phil Murphy highlighted the project’s role in reinforcing New Jersey’s status as a leader in technological innovation. “This investment strengthens New Brunswick’s position as an innovation center, fostering advanced technology development and supporting startups as they scale and commercialize transformative inventions,” Murphy said.
The HELIX, a three-building, 1.5-million-square-foot campus, is designed to integrate New Jersey’s public, private, and academic sectors. H-2 will house chemistry and biology laboratories, data centers, 3D printing facilities, machine shops, and office space. A technology showcase and coffee shop will be featured in the main lobby, with access to a public outdoor space connecting key institutions, including Rutgers University and Robert Wood Johnson University Hospital.
NJEDA CEO Tim Sullivan emphasized the strategic significance of the Aspire Program in driving economic development. “By supporting transformative projects like the HELIX, we are fostering high-quality job creation and long-term economic growth in New Jersey,” Sullivan said.
As part of the initiative, NJEDA and Nokia Bell Labs recently announced plans to establish a Strategic Innovation Center at H-2, featuring the NJ Nokia Innovation Center and the Bell Labs Venture Studio. These programs aim to accelerate startups and commercialize intellectual property in fields such as artificial intelligence, cloud computing, and advanced networking technologies.
“The approval of Aspire tax credits for H-2 is a milestone achievement, made possible through strong public-private collaboration,” said Nishant Batra, Nokia’s chief strategy and technology officer. “This facility will enhance our R&D capabilities while contributing to job creation and economic expansion in New Jersey.”
New Brunswick Mayor Jim Cahill noted the broader impact of the project. “Nokia Bell Labs’ decision to establish a headquarters here reinforces our city’s role as a hub for technological advancement,” Cahill said.
SJP Properties, the lead developer of H-2, has been approved for Aspire tax credits covering up to 80 percent of eligible project costs, capped at $103.9 million. Aspire, a key component of the New Jersey Economic Recovery Act of 2020, supports mixed-use, transit-oriented development and requires residential projects to include at least 20 percent affordable housing. Tax credits are performance-based and disbursed only after project commitments are met.
The HELIX project underscores New Jersey’s ongoing efforts to attract leading technology firms and strengthen its position as a national innovation leader.
