The New Jersey Economic Development Authority has approved a $33.9 million tax credit award for BeOne Medicines US Manufacturing Co., Inc. to support the company’s planned expansion at its existing Hopewell campus.
The company plans to invest $300 million in a new small-molecule pharmaceutical manufacturing facility at the Princeton West Innovation Campus in Pennington and, according to the NJEDA – will create 120 jobs.
The ~$40M award will be paid over five years through the NJ Manufacturing Program
The Next New Jersey Manufacturing Program was established in 2025 as a $500 million tax credit initiative that sought to bring manufacturing into NJ and create jobs and individual applicants may receive up to $150M based on how much the company plans to invest and how many jobs they’re going to create.
Breaking down BeOne’s $33.9M award across the number of job anticipated and we’re looking at a price tag of about $282K for each position – a basic comparison that doesn’t account from how much the company plans to invest, tax revenue or other net-benefit activity.
The proposed three-story, 145,000-square-foot facility will be used to manufacture small-molecule pharmaceutical products and will complement the biologics manufacturing capabilities already located at the campus.
BeOne opened its $800 million flagship United States manufacturing and clinical research and development facility at the Princeton West Innovation Campus back in 2024 and develops treatments for blood, lung, gastrointestinal, breast, gynecological and rare cancers.
According to NJEDA, BeOne selected New Jersey for the new facility after conducting a nationwide site-selection process.
“This $300 million expansion will create 120 full-time jobs, strengthen domestic manufacturing of critical cancer treatments, and help ensure that innovative medicines reach the patients who need them,” Senate President Pro Tempore Shirley Turner said in the state’s announcement.
BeOne Chief Financial Officer Aaron Rosenberg said the expansion would strengthen the company’s ability to produce and deliver cancer medicines.
“Governor Sherrill’s support for this project and the State of New Jersey’s focus on advancing manufacturing were instrumental in making it possible,” Rosenberg said.
We decided to peek into the company’s record of political contribntions and NJ Elec records show BeOne CEO John Oyler and Michael Schoen, the company’s senior vice president and head of government affairs, contributed a combined $10,800 to the New Jersey Democratic State Committee in October 2025.
Records also show that BeOne Medicines contributed $2,500 to the Biotechnology Council of New Jersey PAC, also known as BioNJ PAC in December of 2025.
The contributions preceded NJEDA’s approval of the company’s $33.9 million tax credit The full July 22 board memorandum or signed resolution for the BeOne application, which would provide provide more information about the $33.9 million award, project costs, wage levels, net-benefit analysis and the conditions BeOne needs to meet before getting the credits aren’t posted as of the writing of this article.
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