Teva to Receive $15 Million Tax Credit for Building Research Facility in New Jersey

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Teva to Receive $15 Million Tax Credit for Building Research Facility in New Jersey

By Frank L. Brunetti

The Israeli pharmaceutical company Teva is currently weighing the decision to build a large research facility in New Jersey or Pennsylvania, and the former is willing to

sweeten the deal by offering a significant tax credit to the drug maker.

New Jersey has agreed to provide Teva with a $15 million tax credit if signs a contract to build the projected $73 million facility in Florham Park, New Jersey and create 215 jobs in the state, according to the New Jersey Star-Ledger. The job openings would supplement the 300 employees who are currently working in New Jersey at Teva, which is the country’s largest manufacturer of generic medications.

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