Teva Pharmaceuticals announces that it will move its headquarters in Montgomery Township to Parispony-Troy Hills New Jersey, where it plans to expand that location.
800 high salary local jobs will be lost in the move to the Garden State. New Jersey Governor Phil Murphy provided a tax incentive to Teva that was apparently too good to turn down, $40 million over a period of ten years. According to reports, Teva will still operate a warehouse in Montgomery Township. Teva is in the process of reducing its worldwide workforce by 14,000 jobs. Teva’s timetable in moving its headquarters to northern New Jersey is not yet known.