Subsidy Tracker Individual Entry

Company: 
Pfizer
Parent Company: 
Pfizer
Subsidy Source: 
multiple
Location: 
Connecticut
City: 
New London
Project Description: 

pharmaceutical research center

Year: 
1998
Major Industry of Parent: 
pharmaceuticals
Specific Industry of Parent: 
pharmaceuticals
Subsidy Value: 
$60,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
1,000
Source of Data: 

The value of the subsidy package came from: Kenneth R. Gosselin, "$60M Spent to Help Pfizer, But Gains Locally Were Short-Lived," Hartford Courant, February 7, 2011. The jobs figure, which was a projection over seven years, came from: William Hathaway, "Pfizer Expansion May Bring More than 1,000 Jobs," Hartford Courant, February 4, 1998.

Notes: 

The main parts of the package were $20 million in sales and use tax exemptions from the Connecticut Development Authority and a 10-year, 80 percent property tax abatement from New London valued at about $30 million. The city also transferred land valued at $6.2 million, and the state provided construction and remediation grants. In 2011 Pfizer eliminated many of the jobs at the facility and transferred them to Cambridge, Massachusetts. Overlap with main Subsidy Tracker data: none.

Source Notes: 
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