[They had tax incentives for 10 years and, coincidentally, that's exactly how long they ended up staying.]
http://www.nytimes.com/2009/11/13/nyregion/13pfizer.html
The New York Times
November 13, 2009
Pfizer to Leave City That Won Supreme Court Land-Use Case
By PATRICK McGEEHAN
<snip>
"Look what they did," Mr. Cristofaro said on Thursday. "They stole
our home for economic development. It was all for Pfizer, and now
they get up and walk away."
<snip>
Economic development officials in Connecticut used that plan -- and
a package of financial incentives -- to lure Pfizer to build a
headquarters for its research division on 26 acres nearby. With an
agreement that it would pay just one-fifth of its property taxes for
the first 10 years, Pfizer spent $294 million on a
750,000-square-foot complex that opened in 2001.
By then, Ms. Kelo, the Cristofaros and several neighbors had sued
the city to stop it from using its power of eminent domain to take
their property. The dispute, known as Kelo v. New London, wound up
at the Supreme Court in 2005 as one of the most scrutinized
property-rights cases in years.
<snip>
After Pfizer completed its $67 billion acquisition of Wyeth, another
drug giant, in October, Ms. Power said, "We had a lot of real estate
that we had to make strategic decisions about."
<snip>
The complex is currently assessed at $220 million, said Robert M.
Pero, a city councilman who is scheduled to become mayor next month.
The company pays tax on 20 percent of that value and the state pays
an additional 40 percent, Mr. Pero said. That arrangement is
scheduled to end in 2011, around the time Pfizer, which is currently
the city's biggest taxpayer, expects to complete its withdrawal.
<end excerpts>
Michael