Granholm Helping Pfizer Employees

June 27, 2003
| By Katy Rent |
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GRAND RAPIDS — More help is on the way for former Pfizer employees. Gov. Jennifer Granholm announced recently that she will harness a wide range of resources to encourage displaced Pfizer workers to stick around Kalamazoo and Michigan.

“We will continue our full scale efforts to retain these highly skilled and valuable employees while continuing to work closely with Pfizer on their growth plans,” said Granholm.

“The message should be loud and clear to all Pfizer employees: the state is committed to helping you prosper and continue to call Michigan home. Your talent and skills are needed here to help make Michigan a magnet for new life sciences business growth and expansion.”

Granholm’s plan detailed an array of state initiatives to keep the former Pfizer employees in Michigan including a company formation fund, high-tech career fair, out of state business attraction campaign and venture capital legislation.

The company formation fund is a sum of $2 million that the Life Sciences Steering Committee has set aside to allow employees to initiate start-up companies.

The high tech career fair will be held on July 17 from 11 a.m. to 3 p.m. at the Kalamazoo Radisson, where more than 30 Michigan companies will be looking for skilled workers.

Through the out of state business attraction campaign, Granholm has been sending letters to several hundred out of state pharmaceutical companies, encouraging them to open facilities in Michigan. Companies that do open facilities in Michigan will be offered Single Business Tax credits and other incentives.

The venture capital legislation would make tax credits available to assure repayment of investments by those who invest in Michigan venture capital companies focusing on seed stage investments and provide more capital for start-up companies.

Granholm also restated her commitment to continue a close relationship with Pfizer officials in order to encourage the growth of the drug maker in Michigan.           

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