View Full Version : Bayer To Move Headquarters to New Jersey

November 9th, 2006, 08:35 PM
Bayer plans to move jobs to New Jersey

Bayer HealthCare will move the headquarters of its U.S. pharmaceutical operations and other businesses to New Jersey, the company said today.

The move, which will bring an undetermined number of jobs to the state, comes as part of a realignment of the German company’s pharmaceutical research and development operations. The changes come as Bayer integrates its acquisition earlier this year of Schering AG Germany and Schering’s U.S. affiliate, Berlex, which has offices in Montville and Wayne.

Earlier this week, New Jersey economic development officials offered Bayer as much as $12.5 million in grants to relocate what the company estimated could be 350 employees from West Haven, Conn. Berlex spokeswoman Kimberly Wix said workers from Seattle may also come to New Jersey.

Bayer plans on closing the Connecticut location, as well as a research site in Richmond, Calif. About 600 jobs will be eliminated from the company’s research sites and another 200 will be cut in other locations.

It was unclear whether any New Jersey locations would see job losses.

Gary Rose, Gov. Jon Corzine’s chief of economic development, said he was “delighted” about Bayer’s decision.

“The pharmaceutical industry is very important to the state, so this was frankly in a lot of ways an election by Bayer to locate their pharmaceutical headquarters within in a very large and vibrant pharmaceutical community,” Rose said.

The company said the moves should occur in the next 12 to 18 months.

Contributed by Greg Saitz

November 9th, 2006, 11:11 PM
Great...more corporate welfare.