The New Jersey Economic Development Authority (NJEDA) Board has approved tax credits through the Aspire Program for the second phase of the New Jersey Health + Life Science Exchange (HELIX) in New Brunswick. The building, known as H-2, will have Nokia Bell Labs as its main tenant. This 10-story structure will cover nearly 370,000 square feet and is designed to be an innovation hub in downtown New Brunswick.
Governor Phil Murphy commented on the development: “This approval by the NJEDA Board serves as another milestone in our mission to cement New Jersey as a national leader in technological innovation, helping strengthen the New Brunswick community and create long-term economic growth across the state.” He emphasized that partnerships with major institutions like Nokia Bell Labs would help advance technology creation and business scaling.
The HELIX campus aims to unite public, private, and academic sectors to foster innovation. It will consist of three buildings offering 1.5 million square feet of space for health and life science organizations. NJEDA Chief Executive Officer Tim Sullivan noted, “The HELIX serves as a cornerstone of Governor Murphy’s vision to supercharge New Jersey’s economy and retain our legacy as a national leader in innovation.”
Nokia Bell Labs plans to establish a Strategic Innovation Center at H-2, which includes the NJ Nokia Innovation Center and Bell Labs Venture Studio. These initiatives aim to support startups in commercializing intellectual property from Nokia Bell Labs and local universities.
Nokia's Chief Strategy and Technology Officer Nishant Batra expressed satisfaction with the project: “We are thrilled that the NJEDA Board has approved the Aspire tax credits for the second phase of the HELIX project." He highlighted that this facility would enhance research capabilities, create jobs, and stimulate economic growth.
H-2 will house chemistry and biology labs, data centers, 3D printing areas, machine shops, office spaces, conference rooms, a technology showcase lobby, and a coffee shop connected to public outdoor spaces.
Speaker Craig J. Coughlin praised this investment: “This investment in New Brunswick’s HELIX campus is another example of how New Jersey is solidifying its position as a national leader in life sciences and technological innovation.” Mayor Jim Cahill added that it marks "another transformative step" for New Brunswick's evolution as an innovation hub.
SJP Properties leads H-2's development with approved Aspire tax credits covering up to 80 percent of eligible costs but not exceeding $103.9 million. The Aspire program supports mixed-use developments with tax credits aimed at closing financing gaps while requiring affordable housing components for residential projects.
