The tobacco giant will move its corporate headquarters away from New York City.

NEW YORK CITY — Philip Morris International (PMI) announced that it would be moving its international corporate headquarters from New York City to a facility in Connecticut. Jacek Olczak, the chief executive officer of PMI, confirmed the news in a press statement.

“Connecticut offers a valuable mix of technological know-how, future-forward thinking, and an open-minded approach to problem-solving,” said Olczak. “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.”

“We are excited about what the state has to offer our company, our employees, and their families—and we very much look forward to integrating into the community in a meaningful way,” he added.

According to the company, Gov. Ned Lamont’s office also confirms its support for moving the PMI HQ to the state, with at least 200 jobs expected to come and boost the economy.

“We are excited to welcome PMI to the State of Connecticut, showing once again that our state is a growing and thriving ecosystem for businesses,” Lamont said.

“I am also impressed by their culture and desire to integrate closely into the communities in which they operate, and we look forward to seeing their active and charitable contributions to our state.”

The corporate headquarters facility is expected to open by the summer of 2022 and will play “a critical role in our mission to create a smoke-free future.”

“We are amid a profound transformation at PMI, and our new base in Connecticut will serve to accelerate our progress,” the chief executive added. “Beyond replacing cigarettes with better alternatives, we intend to draw on our expertise in life and medical sciences to develop solutions in areas that include respiratory drug delivery and botanicals. Through our product innovations, sustainability leadership, people-centered employment practices, and community involvement, we intend to be a source of pride for the state.”

PMI has an operations center based in Lausanne, Switzerland. It is also the largest tobacco firm in the United States and the world. PMI is also estimated to generate well over $79.82 billion in revenue, per year, per 2018 numbers.

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