Pfizer offered deal to keep company in Richmond - NBC12 - WWBT - Richmond, VA News On Your Side

Pfizer offered deal to keep company in Richmond

By Rachel DePompa - bio | email

RICHMOND, VA (WWBT) - The City of Richmond offered a deal to Pfizer Inc. to keep the world's largest research-based pharmaceutical company from leaving the city.

It's a $650,000 tax break, spread out over 10 years.

The company gets a five percent rebate starting in 2015. City and state leaders offered incentives to Pfizer to keep its research and development center on Sherwood Avenue in Richmond's Northside.

The deal is said to have saved 300 jobs. City council still has to vote on the plan at it's Monday meeting.

Copyright 2010 WWBT NBC12. All rights reserved.

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