LT. GOVERNOR KIM GUADAGNO HELPS DEDICATE GLOBAL HEADQUARTERS FOR WATSON PHARMACEUTICALS IN PARSIPPANY
Trenton, NJ – Lt. Governor Kim Guadagno on Thursday reinforced New Jersey’s reputation as a leader in the pharmaceuticals field by helping Watson Pharmaceuticals Inc. formally dedicate its global corporate headquarters in Parsippany, a move that will result in about 250 new jobs.
“Watson’s commitment to New Jersey and Morris County demonstrates both the strength of the state’s pharmaceutical industry and the support all businesses are receiving from the Christie Administration,” said Lt. Governor Guadagno. “We have made economic development a priority and we are now seeing the results.”
Paul Bisaro, Watson’s President and CEO, said support from the Administration is the reason for the company’s movie to Parsippany.
“When Watson was exploring where to locate, New Jersey agreed to be our partner,” Mr. Bisaro said. “We thank New Jersey for its commitment to us, as a New Jersey headquartered company, and for all that Governor Christie and Lt. Governor Guadagno are doing to make New Jersey a prominent state for business. We intend to grow in New Jersey and the dedication of this building represents only one milestone in our plan to add jobs in the state and to be more active as a good corporate citizen.”
The New Jersey Economic Development Authority provided incentives to Watson under New Jersey’s Business Employment Incentive Program (BEIP) and the Business Retention and Relocation Assistance Grant (BRRAG) program. BEIP rewards companies for bringing jobs to New Jersey and BRRAG rewards companies for retaining jobs in the state.
Watson’s new global headquarters, which totals approximately 149,000 square feet, occupies an entire building within a multi-tenant corporate campus as well as a floor of an adjacent building. The new facility enables Watson to combine operations previously done in separate facilities in the Morristown area. CEO Bisaro added that the new facility will allow the firm to nearly double its New Jersey-based employees to 500 over the next several years. Mr. Bisaro also said that the company has constructed a “green” headquarters building that includes such features as low emission materials throughout, low flow plumbing fixtures to reduce water consumption by 35 percent, and “dramatic steps to reduce office waste by changing many of our fundamental business practices.” Watson is the fifth largest pharmaceutical firm in the nation.
New Jersey’s attraction to the pharmaceutical or life science industry is well established. About 126,000 New Jersey employees work in the life science industry, according to a recent report by the state Department of Labor and Workforce Development. In addition to Watson’s new headquarters in Parsippany, Bayer Health Care has agreed to consolidate its entire East Coast operations in northern New Jersey.