NEW HAVEN, Conn. (WTNH) -- Alexion Pharmaceuticals will move its corporate headquarters to New Haven, the company and Gov. Dannel Malloy announced Tuesday.
Alexion , which is currently based in Cheshire, will build a new headquarters in New Haven. It has operations in 30 countries worldwide.
The move will bring about 350 jobs to New Haven, where Alexion was founded. It's expected to add another 200-300 jobs by 2017.
"We need to build places, we need to build identification, we need to build a strong industry that we aleady have a strong foothold in," Gov. Malloy said.
The new facility will be built at 100 College Street, in an area known as the Downtown Crossing. The new building is expected to be built by 2015, the governor said.
"This is really a vital and important step in Alexion's expanding global mission to develop and bring to market innovative therapies that transform the lives of patients suffering with severe, ultra rare and life threatening disorders," Alexion CEO Dr. Leonard Bell said.
The company will get up to $51 million in financial assistance through the state's First Five program. They'll pay only 1% interest, deferred for five years. As much as $20 million of the loan will be forgiven based on the creation of up to 300 jobs.
"We were disappointed with the news, but we were not surprised," said Jerry Sitko, Cheshire Economic Development Coordinator.
Sitko says they met with the company about a year ago and knew the company was going through growth. He says they have been "a great employer and business in town."
Additionally, Sitko says in the 13 years they have been in town they went from 100 to 150 jobs and from 90,000 sq. feet to 230,000 sq. feet in two locations. He points out Alexion has a lease through 2015 and possibly 2018 on Knotter Drive, and the company could have a presence in town through 2020 giving the town the chance to explore opportunities for development and recoup the tax loss, which is $155,000 a year for personal property and $501,000 in real estate taxes.
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