Teva Neuroscience Plans To Relocate to $71 Million Complex 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.
2022 Top States for Doing Business Provide an Environment for Business Growth
Location Factors in the EV Industry — “Mission Critical” or “Nice to Have”?
2022 Auto/Aero Site Guide
How Are Economic Developers Partnering to Solve Workforce Challenges?
Three Big Challenges Facing the Food & Beverage Industry
Fixing the Supply Chain with AI and Robotics
36th Annual Corporate Survey: Executives Focus on Labor, Energy, Shipping Costs
18th Annual Consultants Survey: Access to Major Markets and Skilled Labor Are Clients’ Primary Concerns