Boehringer Ingelheim Statement on Proposed CT Tax Increases

RIDGEFIELD, CT – June 2, 2015 – Recent proposed tax increases under discussion in Connecticut’s legislature are deeply concerning for residents and businesses throughout the state.

As a global company with a significant economic footprint in Connecticut, we support consistent tax policies that foster a stable and predictable environment for businesses across the state to grow and invest in the economy and the workforce. Implementing the current, short-sighted tax proposals will stifle innovation, especially research and development of critical medicines, and have far-reaching implications on our ability to plan and make long-term business decisions. The current proposal will undermine the financial feasibility of continued capital investments at our Ridgefield/Danbury site. 

As Connecticut struggles to compete with neighboring states, we urge Governor Malloy and the legislature to carefully consider the economic consequences of these significant tax proposals. We expect the state’s leadership to implement a budget that is sustainable for the long-term needs of Connecticut, its residents and businesses. 

About Boehringer Ingelheim

Boehringer Ingelheim Pharmaceuticals, Inc., based in Ridgefield, CT, is the largest U.S. subsidiary of Boehringer Ingelheim Corporation.

Boehringer Ingelheim is one of the world’s 20 leading pharmaceutical companies. Headquartered in Ingelheim, Germany, the company operates globally with 146 affiliates and more than 47,000 employees. Since its founding in 1885, the family-owned company has been committed to researching, developing, manufacturing and marketing novel treatments for human and veterinary medicine.

Boehringer Ingelheim is committed to improving lives and providing valuable services and support to patients and families.  Our employees create and engage in programs that strengthen our communities. To learn more about how we make more health for more people, visit our Corporate Social Responsibility Report.

In 2014, Boehringer Ingelheim achieved net sales of about $ 16.96 billion dollars (13.3 billion euros). R&D expenditure corresponds to 19.9 percent of its net sales.

For more information please visit www.us.boehringer-ingelheim.com, or follow us on Twitter @BoehringerUS.