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Bayer HealthCare Opens New HQ in Hanover; Governor Speaks on Making State a Better Business Environment

Hanover, NJ, October 16, 2013 — This morning, Bayer HealthCare will be joined by Governor Chris Christie and Marijn Dekkers, CEO of Bayer AG, the Germany-based parent company of Bayer HealthCare, at a ribbon-cutting ceremony to officially open its new East Coast headquarters in the Whippany section of Hanover.

Speaking at the event, Governor Christie, said, “We need to continue to work on things that will help to make the business environment better in this state.”

“We need to do it for all of you,” Governor Christie continued.  “And more importantly, we need to do it for all the people who aspire to be you:  To be working for a great company, working on important projects that will affect positively the lives of people all across this country and around the world, while at the same time making a good living to help to support your families and to put food on the tables of your children and grandchildren all across this state.”

“[T]he only way to have that happen is for us to work together in the state to make sure that we create the kind of environment that will keep folks, like Dr. Dekkers, signing those checks,” Governor Christie said. 

“So I was proud to work with the legislature, and signed just a few weeks ago the Economic Opportunity Act, which is the most comprehensive overhaul of New Jersey’s economic incentives in our history,” Governor Christie said.  “It’s a bipartisan bill. It streamlines all the different economic development incentive programs to spur job creation and make New Jersey more competitive into two programs.  And we’ve gotten it done.”

“I think what you’re going to see now all across the state,” the Governor continued, “is continued development because we are making it worthwhile for corporate CEOs and small businesses across our country to come and reconsider New Jersey as the place where they’d like to see their business grow and prosper.”

Bayer Corporation President Phil Blake told The Star-Ledger’s Stacy Jones that the new five-story headquarters is many small villages spread out over an airy, sun-filled 650,000-square-foot space.

The more than 2,000 people who now are working in the new headquarters drive Bayer’s prescription pharmaceuticals business and tend to its consumer and medical care businesses, Blake said.  Many of the workers are scientists and physicians who develop knowledge about the communities Bayer serves.

The new Morris County headquarters consolidates operations that used to be spread out among facilities in Morristown, Montville, Wayne and Tarrytown, NY.  Altogether, 2,400 Bayer employees, all but 100 of its New Jersey-based workforce, will report to the new Whippany office.

Jones reports that when Bayer HealthCare announced it would consolidate several facilities to create a new East Coast headquarters, it considered moving to New York where it already had an operation in Tarrytown.  

But Bayer received a Business Employment Incentive Program tax credit worth $22.2 million over 10 years from the New Jersey Economic Development for agreeing to create 500 new jobs with an average salary of $175,000.  

Also, Bayer received a Business Retention and Relocation Assistance tax credit, worth $14 million.

To view a video of the Governor’s comments, click here.

For the complete Ledger story, click here.