Mead Johnson Nutrition Co. will receive $2.7 million in incentives from
this month, the Chicago Tribune reported yesterday.
company, which has been based in
since 1915, plans to move about 50 executives, including finance, legal and
marketing managers, to
the Tribune said. The incentives include
tax credits, tax exemptions and job-training money.
Mead Johnson, a unit of New York-based
Bristol-Myers Squibb Co., grabbed national attention in February by pulling off
the first initial public offering in the
which makes infant formulas Enfamil and Enfagrow, had about $2.9 billion in
revenue last year.
firm will maintain sizable operations in
where it employs about 1,300 of its 5,000 employees. It broke ground on a
research-and-development center in the city in November. The first phase of the
project, costing about $26.2 million, should be completed by summer 2010.
“Locating our corporate office in
skills and talent we need to operate as a publicly traded company and enhance
our effectiveness as a global growth company,” Mead Johnson CEO Stephen
Golsby said in a statement to the Tribune.