ADVANCED INDUSTRIES GRANTS

In 2015, the Brookings Institution’s Metropolitan Policy Program introduced the category of advanced industries, sectors anchored by R&D (research and development) and STEM (science, technology, engineering and math) activity that generate high-wage, high-growth, sustainable and inclusive employment. New Jersey’s current advanced-industries profile features certain assets – a sophisticated workforce, an enviable location, engaged higher-education institutions – along with a number bracing weaknesses, particularly ongoing contraction across related fields.1 Accepting the benefits of investment in R&D, New Jersey could invigorate its advanced industries by replicating an initiative underway in another state: Colorado’s Advanced Industries Grant Accelerator Program, which backs locally incepted innovations in the pre-investment stage, shepherding technologies and services from the research phase through development to commercialization.