Bayer is moving to NY?

Discussion in 'Bayer' started by Anonymous, Dec 22, 2010 at 1:37 PM.

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  1. Anonymous

    Anonymous Guest

    Glad a decison has been made
     

  2. Anonymous

    Anonymous Guest

    Big new on the sale of Mishawaka plant yesterday. I guess it will be know for sure now within 18-24 months on the selected site and what will happen to Diabetes Care.
     
  3. Anonymous

    Anonymous Guest

    I hear it is Mt. Olive still.
     
  4. Anonymous

    Anonymous Guest

  5. Anonymous

    Anonymous Guest

    they will consolidate Nj sites and take over the lucent site on whippany road in Hanover Nj
    see Hanover township website
     
  6. Anonymous

    Anonymous Guest

    Mount Olive is now back on the table
     
  7. Anonymous

    Anonymous Guest

    Any word?
     
  8. Anonymous

    Anonymous Guest

  9. Anonymous

    Anonymous Guest

    Helping Bayer executives to choose New Jersey was the offer of public subsidies totaling about $35 million. In February, the pharmaceutical company was awarded a $14.1 million grant from the New Jersey Economic Development Authority's Business Retention and Relocation Assistance Grant. In January, the state approved a grant of up to $21 million through its Business Employment Incentive Program.

    Will it be taxpayer money well-spent? After all, the pharmaceutical industry has been restructuring for years now, cutting sales forces and eliminating overhead. When Merck & Co. Inc. bought Schering-Plough Corp. and Pfizer Inc. bought Wyeth, both in 2009, the resulting cuts fell hard on the New Jersey operations.

    According to the Quarterly Census of Employment and Wages collected by the federal Bureau of Labor Statistics, employment in New Jersey's pharmaceutical and medicine manufacturing sector peaked at 42,256 in 2007. It dropped to 37,957 in 2008 and 33,993 in 2009.

    The Christie administration said Bayer's decision to stay in New Jersey "will help keep us the premier state in the nation for the pharmaceutical industry."

    Still, pharmaceuticals remain such a terrifically profitable business, it's hard to swallow that New Jersey needed to offer so much to retain Bayer.
     
  10. Anonymous

    Anonymous Guest

    I see that our dear friend MT is leaving for Ireland...now that we're stuck with the Whippany site. I guess he saw the writing on the wall.