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:
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: If an online information source is not working, check the Tracker inventory page for an updated link.