New Jersey's bait worked: After promise of $40M in incentives, Teva is moving its HQ
It’s official — the carrot New Jersey dangled in front of Teva has sealed the company’s fate. It will move its US headquarters to Parsippany-Troy Hills, NJ, after the state agreed to give the company $40 million in tax credits, New Jersey Gov. Phil Murphy said in a statement today.
To make the move, Teva is expanding its existing Parsippany-Troy Hills location to encompass 350,000 square feet and expects to “transfer and create 843 jobs and retain 232 existing positions.” The median annual wage associated with the more than 1,000 positions is $128,073.
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