Pfizer Inc. will move 1,000 jobs to Manhattan in the next year and buy a Third Avenue office building.
FYI: Pharmaceutical giant Pfizer Inc. has announced plans to move 1,000 jobs to Manhattan in the next year and to buy a Third Avenue office building, though Crain's New York Business reports that most of those jobs will be filled by people transferring from other locations around the world. The mayor hailed the move as "a real step forward in the city's economic recovery," noting that it's part of the company's plan to invest $1 billion in consolidating its business in New York over the next 15 years--bringing new jobs, saving 5,500 current ones in Manhattan and Brooklyn and pumping $100 million annually into the city and state tax revenue streams. Pfizer stands to gain $46.1 million in incentives from the Economic Development Corporation if it brings 4,300 new jobs to the city over that 15-year period. [5/6/03]
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