Bristol-Myers Squibb to Close Wallingford Facility (Updated)

Bristol-Myers Squibb announced Thursday morning that it will close its Wallingford facility, located at 5 Research Parkway, in early 2018 with up to 500 employees relocating to a new location in the state.

The company is planning on building a new state-of-the art research site in Cambridge, Massachusetts and it will also relocate up to 200 employees from the Wallingford and Waltham, Massachusetts sites, along with a limited number from its central New Jersey locations to the new site, according to a press release.

It is also expected that of the 900 jobs in Connecticut, about 100 will be eliminated.

The moves are part of the Bristol-Myers Squibb’s “next steps in the evolution of the company’s R&D organization, including plans to expand its presence within hubs of scientific excellence and innovation,” according to the press release. The company is also continuing to expand its R&D Discovery site in the San Francisco Bay Area.

Bristol-Myers Squibb was Wallingford’s top tax payer in 2014, paying $2.96 million in taxes, according to the Meriden Record-Journal.

The Wallingford facility is a multi-wing single building with 1 million square feet dedicated to drug discovery and drug development activities within the Research and Development.

The following departments are represented in Wallingford, according to the company’s website: Applied Biotechnology, Applied Genomics, Chemistry, Clinical Research, Metabolism & Pharmacokinetics, Neuroscience and Virology.

Legislators react

Senate Minority Leader Len Fasano and Deputy House Republican Leader Vincent Candelora, who both represent the town of Wallingford, released the following joint statement:

“It is devastating to hear that a stable global company is yanking its presence in Connecticut. People are losing their jobs, and many of those who may have an opportunity to keep them will be moving out of state. Clearly, economic advantages and disadvantages were considered when the company decided to close down existing locations in favor of a new location.

“This is about our families. This is about jobs. This is about all the local businesses and contractors facing a loss. This is about Connecticut not being the most hospitable place for business and for research and development in particular. We watched this company invest in and bring energy to our state. But that energy is out the door.

“This is not the first time this has happened. In past years, we’ve seen Pfizer make a similar move, investing in Connecticut only to abandon it for a Cambridge operation. Our fear is that if our state does not take drastic measures to improve our economy this will not be the last. The budget situation we are in doesn’t help. The perception is bad, and so is the reality,” they said.

U.S. Rep. Rosa DeLauro (D-3) issued the following statement:

“I am deeply troubled by today’s announcement and what it means for the hundreds of Bristol-Myers Squibb employees in Wallingford. This facility’s closure will devastate these workers’ lives and those of their families, while hurting the Town of Wallingford. I stand ready to help the affected workers and urge those in need of assistance to contact my office.”

Image via Bristol-Myers Squibb website