Industrial Site Recovery Act: An Environmental Consideration For New Jersey Life Sciences Facilities
By Thomas Spiesman and Lisa M. Bromberg
Life sciences companies must consider the applicability and requirements of various environmental laws and regulations that may apply to operations and transactions. In the State of NJ, the Industrial Site Recovery Act ("ISRA"), N.J.S.A.13:1K-6 et seq. is one such law which, if applicable, may entail significant regulatory requirements.ISRA compliance is triggered by the transfer of ownership or operation of an "industrial establishment." There must be both an "industrial establishment" and a transaction to trigger ISRA.