Alexion Pharmaceuticals has announced that it’s moving its corporate headquarters to Boston. The move is calling into question the state’s “First Five” business initiative that provides grants and loans to help companies relocate or grow in the state.

Alexion will turn its New Haven location into a research center in mid-2018 and will have about 450 employees there. There will be about 400 positions in Boston. The company said the reason for the move is a large biopharmaceutical talent pool and a variety of life-sciences partners that can help it grow. The departure comes on the heels of GE announcing it would move its corporate headquarters to Boston.
Connecticut officials have demanded the company return its “First Five” money which includes a $6 million grant, $20 million loan. The loan was forgivable if Alexion hit certain job creation numbers. The money was made available to move the company from Cheshire to New Haven and establish a large downtown headquarters. Tax credits of up to $25 million were also offered. The company moved to New Haven in March 2016
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