Subsidy Tracker Individual Entry

Company: 
AstraZeneca
Parent Company: 
AstraZeneca
Subsidy Source: 
multiple
Location: 
Delaware
City: 
Fairfax
County: 
New Castle
Project Description: 

U.S. headquarters relocation and consolidation

Year: 
1999
Major Industry of Parent: 
pharmaceuticals
Specific Industry of Parent: 
pharmaceuticals
Subsidy Value: 
$178,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
5,000
Source of Data: 

The value of the subsidy package and the job number are taken from Janene Nolan, "AstraZeneca wins grant," The News Journal, December 19, 2000. The information on the road construction costs is taken from Prashant Gopal, "DelDOT project's price rises," The News Journal, January 10, 2001.

Notes: 

In 1999, AstraZeneca chose Delaware over Pennsylvania to locate its U.S. headquarters. The subsidy package included: an $8 million grant that paid for the company's relocation from Pennsylvania and for construction costs; $10 million in free land; $30 million in various tax credits; and about $130 million from Delaware Department of Transpiration for road improvements around the new complex (originally, the road construction cost was estimated at $79.5 million but by 2001 the price tag rose by $50 million). AstraZeneca relocated about 1,600 workers from its office in Wayne, PA, 25 miles away from the new location. Delaware signed a five-year agreement with the company that expired in 2004. In 2007, the company announced mass layoffs and by 2014 the company reduced its Delaware employment by 3,000 (on the layoffs, see for example: Gary Haber, "AstraZeneca to cut 7,600 global jobs," The News Journal, July 27, 2007 and Aaron Nathans, "AstraZeneca's future not certain, observers say," The News Journal, May 19, 2014, available at: http://www.delawareonline.com/story/money/business/2014/05/18/pfizer-rai...). Overlaps with main Subsidy Tracker data: none.

Source Notes: 
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