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Economists Say Connecticut Could Feel Later Effects of Pfizer Merger.
Knight Ridder/Tribune Business News, May, 2003
By Stacy Wong, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
May 1--The state may have dodged major job losses as Pfizer Inc. reshuffles its research and development operations after its merger with Pharmacia Corp., but economists and development officials on Wednesday said Connecticut shouldn't relax.
There will be short term pain as jobs and people are relocated, and in the months ahead Pfizer could still lay off hundreds of employees at either its Groton or New London sites, where 6,000 people work, they said.
Connecticut also needs to invest in higher education, improve its transportation networks and maintain good research and development tax incentives if it wants companies such as Pfizer to keep jobs in the...
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