Pfizer might get incentives to keep research center in Richmond

Pfizer might get incentives to keep research center in Richmond
By Staff Reports | Times-Dispatch
Published: June 29, 2010

City officials are planning to offer incentives to Pfizer Inc. for keeping its research and development center with more than 300 jobs in Richmond.

Executives with Pfizer and city officials reiterated the company's decision to maintain the facility in Richmond at a news conference this afternoon.

Peter Chapman, Richmond's deputy chief administrative officer and interim director of economic and community development, said city officials will present a package of incentives to City Council for approval within a few weeks. He declined to provide financial details but described the incentives as "modest and measured."

He said Pfizer also would preserve a certain number of jobs as part of the deal.

Pfizer announced in May that it would end production at its Henrico County manufacturing plant in two to three years, eliminating about 550 local jobs.

Production of over-the-counter health products such as Chap Stick, Dimetapp, Robitussin, Anbesol and Preparation H will be moved elsewhere, but the company said it planned to keep its consumer research center on Sherwood Avenue in Richmond.