older Animal Health biz backgrounder (legacy Organon/Schering-Plough), which is continuing some operations there, through 2015, is here.]
Do go read the local account in Patch.com, on the Summit city council's thoughts, and deliberation -- about how to replace, or at least mitigate, the loss of $9 million per year in real estate taxes. Tough times indeed.
. . . .Summit Mayor Ellen Dickson and members of the city's Common Council met Wednesday with Merck officials following Tuesday's announcement that the pharmaceutical giant will close its Summit campus amid global restructuring. . . .
"We are doing all we can to make this a smooth transition," Dickson said. "They are only now beginning to fully assess the 88-acre property, and acknowledge that is truly is a wonderful campus. Merck is looking to find a similar buyer who may be able to immediately use it for like purposes."
The Summit site, where 1,800 Merck employees work, paid the city $9 million in taxes annually. The campus will remain open through 2014 and exit in 2015. . . .
As ever, we will keep you posted.