Pfizer Move from New London, CT
November 13, 2009 at 9:11 AM
The New York Times is reporting that Pfizer will be moving one thousand or so jobs from New London to Groton, Connecticut. Pfizer’s move to New London made news when New London initiated condemnation proceedings against Susette Kelo and others who refused to sell their property to make way for an "integrated development plan.” In a 5 to 4 decision (Kelo v. New London, 545 U.S. 469 ( 2005)), the U.S. Supreme Court decided that it was permissible for the city to take private property for commercial development.
According to the article, Scott Bullock of the Institute for Justice notes that there are now statutes in 43 of the 50 states which prevent similar use of eminent domain powers. The Institute for Justice tracks cases involving the use of eminent domain for economic development. It has also published a report criticizing its use in New York: Building Empires, Destroying Homes: Eminent Domain Abuse in New York.
On SSRN, see Kelo, Directed Growth, and Municipal Industry Policy by Steven Eagle (2008) and Post-Kelo Reform: Is the Glass Half-Full or Half-Empty? by James W. Ely, Jr. (2008).