Thursday, October 13, 2005
Contact: Spence Jackson, 573-751-0290
Blunt Announces Major Expansion at Pfizer; Quality Jobs Legislation Key to Deal
JEFFERSON CITY–Gov. Matt Blunt today announced that Pfizer will invest nearly $200 million to expand its research and development facility in Chesterfield and maintain its work force of about 1,200 employees thanks, in large part, to the Missouri Quality Jobs Act that offers incentives to companies who chose to keep doing business in the Show Me State.
"I am very pleased that Pfizer is making this significant investment in Missouri and will continue to provide the kind of high paying, high quality jobs that help support the cutting-edge research the company already does in our state," Blunt said. "I am strongly committed to life science research and through the Missouri Quality Jobs Act we were able to strengthen our relationship with Pfizer well into the future."
The Missouri Quality Jobs Act was passed overwhelmingly by the General Assembly in May and was signed into law by the governor shortly after. The governor initially proposed the measure as a major part of his legislative economic development package.
Under a memorandum of understanding with the Missouri Department of Economic Development, Pfizer will receive $500,000 in tax credits per year for five years under the retention portion of Missouri Quality Jobs Act. Pfizer, a Fortune 500 company, researches and develops leading prescription medicines and has six major research and development centers worldwide including the Chesterfield facility.
The Pfizer announcement comes a month after Express Scripts became the first company to utilize the Missouri Quality Jobs Act. On Sept. 8, Express Scripts announced that the company would relocate its new headquarters to the campus of the University of Missouri-St. Louis where it will employ more than 1,100 workers.
"We are already seeing some major successes in creating and retaining jobs as well as expanding investment in Missouri thanks to the Quality Jobs Act," Blunt said. "It is clear that Missouri means business when it comes to creating jobs and Pfizer’s commitment to the state is just another example of that."
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