A record number of biotechnology, life sciences and other tech-related companies with a presence in New Jersey stand to benefit from private investments spurred in part by tax credits approved by state officials last year — a sign the Garden State continues to serve as the nation’s medicine chest.
The New Jersey Economic Development Authority announced Tuesday it has approved 251 applications from “angel investors” who are eligible for state income-tax credits to help offset the more than $96 million in private funding they funneled to Garden State tech firms during 2016 — the highest annual total since the program launched three years ago.