ALLEGAN (WKZO) -- The announcement this week that Allegan based drug maker Perrigo has bought an Irish firm called Elan and moving its headquarters to that country had Michigan employees a bit nervous, but Perrigo says that it won't be laying off any staff, and that its HQ move is strictly on paper.
Grand Valley State University economist Doctor Brian Long says that's probably true. He doesn't think Perrigo will leave Allegan after establishing itself there. He notes it takes a lot of work and time to build a distrubution and manufacturing center like Perrigo has, and he htinks the headquarters announcement is strictly tax related.
Doctor Long says that it makes sense for Perrigo to move its corporate headquarters to Ireland, given that country's twelve point five percent tax rate. Long says the move will save Perrigo millions of dollars a year in taxes.