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Teva Neuroscience Plans To Relocate to $71 Million Complex in Overland Park, Kansas
Area Development Online News Desk (04/10/2012)
Teva Neuroscience, a pharmaceutical company marketing drugs for multiple sclerosis and Parkinson's disease patients, will relocate its headquarters and operations from Kansas City, Missouri to a $71 million, 154,000 square foot, complex on Nall Avenue and College Boulevard in Overland Park, Kansas.

Company officials said they initially plan to hire 400 employees, with 200 additional added as part of future growth. Jobs to be created include sales and marketing, patient services and support, information technology, finance, personnel and legal.

"I want to welcome Teva to one of the premier business corridors in Johnson County," said Kansas Commerce Secretary Pat George. "This move allows the Kansas City area to continue to serve as a national and international headquarters for this part of the company. This new location will serve Teva well and allow for future expansion opportunities."

"We are excited Teva has selected Overland Park for its premier operation and state-of-the-art office building on College Boulevard," said Carl Gerlach, Overland Park Mayor. "Teva joins a growing list of companies that call Overland Park home due to our highly educated work force, superior public safety, and outstanding streets and roads."

Relocation of Teva from Missouri to Kansas is viewed as the latest skirmish in a heated economic development cross border war between the two states to attract each other's job creating businesses.

While Teva officials would not disclose details of any incentives offered the firm to relocate, three years ago Kansas adopted Promoting Employment Across Kansas, a highly attractive tax incentive program. Under the program eligible companies can retain 95 percent of payroll withholding tax for up to ten years. Firms also have to commit to job creation benchmarks to be eligible for tax incentives.

Last year, Missouri legislators failed to pass a land development incentive package, valued at an estimated $30 million, which might have enticed Teva not to leave the Kansas City. Economic Development officials from Kansas quickly stepped in and successfully courted the pharmaceutical firm to make its move.

Even with some Missouri lawmakers suggesting a truce might better serve both states, the economic development war shows no signs of stopping.
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