Pfizer Consumer Healthcare Research and Development

Company Challenge

Following the acquistion of Wyeth by Pfizer, state, regional and local officials recognized the need to strengthen the Richmond business case to retain the research and development facility.  It's the world's largest research-based pharmaceutical company. Pfizer was considering closing its research and development facility on Sherwood Avenue in favor of a company owned plant in Pennsylvania.

Business First Solution

A cross functional team that included government and academia rallied to support continued investment at the facility and encourage the development of a talent pipeline to support their highly-technical workforce needs. As reported by the Richmond Times Disptach - "Richmond formed a rapid response team and offered what officials are calling, measured, performance based incentives..........According to a Senior Vice President with Pfizer, the incentives were not the only reason for staying. 'Our decision was based on the quality of the site, the importance of the people and the work that they're doing there,' said Mark Gelbert. 'And for us this was the right decision for our future and the growth that we were looking for.' Mayor Jones indicated, he wants to bring new businesses into the river city, but it's just as important to keep the ones we already have." 

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The Department of Economic and Community Development is here to help build and grow a healthy business in the City of Richmond, whether you have 10,000 employees or you are the only employee.