Alcon, the eyecare unit of Novartis that will be spun off as a separate company in 2019, plans to move its corporate headquarters from Texas to Geneva, according to a statement by Novartis on Tuesday.
The company’s current global headquarters in the Dallas suburbs will remain a major site but Geneva was selected as the new global headquarters with Novartis citing Switzerland’s “progressive business climate and innovation-friendly policies”.
As part of the move, the company plans to employ up to 700 people in Switzerland. While the company’s management and key commercial functions will be in Geneva, the new publicly listed company’s official registration will be in Fribourg, creating additional tax revenue for the area. Additional Swiss sites are planned in the towns of Rotkreuz and Schaffhausen.
The future establishment of Alcon's global headquarters in Geneva is an extension of the combined efforts of Fribourg and Geneva according to Dejan Nikolic, Delegate for Economic Development, Research and Innovation of the Canton of Geneva. About ten years ago, the two cantons sought to attract Alcon to the area.
This decision comes as Geneva seeks to maintain its attractiveness to multinational companies despite concerns about housing shortages fuelled in part by the thousands of peopleexternal link who come to live and work in the city every year.