State to Keep Pfizer Name

Granholm is encouraging Pfizer Corp. to retain and expand its soon-to-beacquired Kalamazoo County operations, including a tax incentive package.

Theincentive package is valued at up to $635 million over a 20-year periodbased on the company investing $784 million in four expansion projects andcreating 2,100 new jobs in the Kalamazoo area. The majority of theincentives offered are only available to Pfizer if it maintains 8,500 jobsin Michigan, including 5,000 in research and development.

McKinnell said Wednesday that an announcement will be made next week aboutjob and plant expansions and reductions.

"We will announce organizational changes to our colleagues. This will resultin no change at some locations, increases in employment at others and jobreductions at certain sites," McKinnell said.

However, this state will keep the Pfizer name, he said.

"Michigan will continue to be Pfizer's largest and most important businesslocation in the United States," McKinnell said. "We (have) emphasized ourinterest in sustaining business growth. That growth over time will haveimportant economic benefits in communities like Ann Arbor, Holland andKalamazoo, MI."

Previously, state officials traveled to Pfizer's Research and Developmentheadquarters in New London, CT, to extol the advantages of the fourPharmacia Kalamazoo County operations to high-level Pfizer executives andspecifically discussed state and local incentives that could be offered tothe company if it decides to grow in Michigan.