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Economy

Philip Morris to Move Headquarters from NY to Connecticut

STAMFORD, Conn. — Tobacco company Philip Morris will relocate its corporate headquarters from New York City to southwest Connecticut, bringing 200 jobs, officials said Tuesday. 

The company said in a news release that the move was facilitated by the office of Gov. Ned Lamont, a Democrat, and the new headquarters is expected to open by next summer. 

"Connecticut offers a valuable mix of technological know-how, future-forward thinking, and an open-minded approach to problem-solving," said Jacek Olczak, CEO of Philip Morris International. "We consider it an ideal location for our new U.S. head office, where we will be working to more quickly achieve our vision of a smoke-free future."

The company also has offices in Switzerland and employs more than 71,000 people around the world. 

Philip Morris, the maker of Marlboro cigarettes, has been shifting to non-combustible products that it says are not free of health risks but offer an alternative to continued smoking. It aims to be a majority smoke-free company in terms of net revenues by the end of 2025. 

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