Pfizer said it would pull 1,400 jobs out of New London within two years and move most of them a few miles away to a campus it owns in Groton, Conn., as a cost-cutting measure. It would leave behind the city’s biggest office complex and an adjacent swath of barren land that was cleared of dozens of homes to make room for a hotel, stores and condominiums that were never built.
This decision by Pfizer to Leave New London, Connecticut is going to profoundly impact future eminent domain cases and gives a major boost to libertarians. The landmark SC ruling was unique in the sense that it acquired private land that included a built home to hand over to another private party for the “public good”. Without conditions to ensure that Pfizer would indeed add 1,400 jobs to the New London as promised, its decision to leave after just eight years is not surprising. Pfizer’s decision to move away puts paid to New London’s hopes of revitalizing the area around Kelo’s home by building an “urban village” to attract shoppers and tourists. So in effect, is Pfizer really responsible for making the city assume that they would stay forever? But Susette Kelo’s pink house still stands after it was moved across town by preservationist Avner Gregory who bought it for $1.