Middlesex County schedules public hearing on $350 million bond guarantee for New Brunswick life‑science exchange

Middlesex County commissioners introduced an ordinance authorizing the county to provide a full faith-and-credit guarantee for up to $350 million in revenue bonds to finance the New Jersey Health Life Science Exchange project in New Brunswick.

County staff said the bonds would be issued by the Middlesex County Improvement Authority and that the project is intended to serve governmental purposes by advancing medical and technological research, education, innovation and housing. The board directed that a required public hearing be held on March 19, 2026 at 6:30 p.m. and that required legal notices be published in accordance with local law and county procedures.

A county official who presented the item told commissioners the ordinance authorizes the public hearing and the publication steps needed under the local bond and finance laws. No vote on final bond authorization occurred at the meeting; the ordinance was introduced and will return after the statutorily required hearing and notice steps.

Why it matters: County-backed guarantees can lower borrowing costs for major developments and effectively make the county legally accountable for the guaranteed debt if project revenues fall short. The exchange project was described by staff as advancing regional economic development and long-term growth in the life-sciences sector.

Next steps: The board scheduled the public hearing for March 19, 2026, at which members of the public and commissioners can testify. The ordinance must receive any additional local approvals required after the hearing before bond issuance moves forward.