Merck, City of Summit Working Together to Create 'Smooth Transition'
Mayor Ellen Dickson and members of Summit's Common Council met with Merck officials Wednesday, one day after it was announced that the pharmaceutical company will close its 88-acre Morris Avenue campus.
Summit Mayor Ellen Dickson and members of the city's Common Council met Wednesday with Merck officials following Tuesday's announcement that the pharmaceutical giant will close its Summit campus amid global restructuring.
"We are doing all we can to make this a smooth transition," Dickson said. "They are only now beginning to fully assess the 88-acre property, and acknowledge that is truly is a wonderful campus. Merck is looking to find a similar buyer who may be able to immediately use it for like purposes."
The Summit site, where 1,800 Merck employees work, paid the city $9 million in taxes annually. The campus will remain open through 2014 and exit in 2015.
Bill Mayo, head of Merck's global real estate services, said his team is responsible for finding a "like-kind user." While Mayo said he had not received any calls of interest yet, he added that any company considering the campus would need time to evaluate the site and its characteristics.
In the interim, Dickson said she will continue to work with city staffers, members of the Common Council and the business community to "effectively manage this transition with Merck."
"Summit is a great place to do business and this premiere location will certainly offer an exciting opportunity for the right company," she added.