BREAKING NEWS

Teva mulling opening factory in North

OCTOBER 29, 2013 14:52

Teva Pharmaceuticals is looking into opening a factory or R&D center in the country’s north, in part to access talent in the Arab community, Teva’s Executive Vice President Ika Abravanel said Tuesday.

Speaking at the Prime Minister’s Conference on the economic integration of Arabs, Abravanel said that the company had trouble holding onto Arab employees who were forced to commute from the north to its sites in Jerusalem and the country’s center.

“If the workers can’t come to Teva, it seems like we have to bring teva to the workers,” he said, saying that increasing Arab participation in the labor market was not only good for the economy at large, but good for businesses.

The government provides substantial tax incentives for capital investments in the periphery, and Teva has proved masterful in taking advantage of, paying almost no corporate taxes as a result.

The theme of geographic separation between the Arab workforce and the country’s industrial centers recurred throughout the conference.

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