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GlobeSt.com UPDATE: Pfizer Breaks Ground for $500M Expansion

MORRIS PLAINS, NJ-First up in the six-year plan for the 175-acre site is a 244,000-sf, $200-million R&D facility. The pharma giant is getting $25 million in state incentives to do the project.

By Eric Peterson | Updated on June 01, 2005

MORRIS PLAINS, NJ-State and company officials yesterday broke ground on the first phase of what will eventually be a $500-million expansion of Pfizer Inc.’s 175-acre campus here. The pharma giant’s multi-phase project will take at least six years to complete, according to Marc Robinson, president of Pfizer Consumer Healthcare.

First up in the long-term project was the subject of yesterday’s groundbreaking, a three-story, 244,000-sf R&D center that’s being built at a cost of $200 million. Completion is slated for early 2007, according to Robinson. The facility will reach full occupancy in stages, he says.

“This state is critical to our success,” Robinson said at the event. “Our expansion here reaffirms the strong partnerships we’ve established with governments, community organizations and our other stakeholders in the state.”

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