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.

Endpoints News

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.