Senate Republican Leader Thomas Kean issued the following statement regarding the announcement by pharmaceutical giant Hoffman-LaRoche that it plans to move the operations of its Nutley headquarters to the San Francisco Bay Area if the company completes a $44 billion buyout of partner, Genentech:
“It is deeply troubling that a pharmaceutical company with a long history in New Jersey has chosen to transfer its headquarters and associated jobs to California. Last week, one of the world’s most prestigious investment managers, Blackrock Financial Management, said it was moving its offices and more than 1,000 jobs from Plainsboro to Philadelphia.
“Comments from the Corzine administration suggest state officials continue to ignore the problems with the state’s reputation in the business community, despite the continuing loss of private sector jobs.
“Yesterday, the governor declared in a statement that, ‘A whole series of international companies look quite favorably on New Jersey, because we have a concentration of pharma and biotech companies.’ Today comes the news that Roche will move its headquarters.
“The governor’s rhetoric does not match the facts on the ground. Trenton’s anti-business policies are pushing biotech and high tech companies, with small environmental footprints and high paying jobs, out of this state. We must take immediate action to reverse this trend and come up with an unbeatable economic development strategy. I call again on the governor to reconvene the Legislature this summer to discuss S-281 and other bills that would halt the exodus of jobs and capital from New Jersey.”
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December 3, 2007
