<p>So I heard the news today that Pfizer is removing its operations from Ann Arbor. It had been the largest tax payer for the city and I would assume had close ties to the science departments at U Mich. What impact do people think this will have on the students?</p>
<p>Well, a lot has happened since the announcement. The community was reeling. What has happened since has been really inspiring. U-M and city leaders have been working very closely together since last January.</p>
<p>On students? I am not sure it will have a lot of impact. </p>
<p>Pfizer has kept its philanthropy commitments for the current year, which was a wonderful act of corporate citizenship. Going forward, it's possible that there will be fewer sponsored cultural events offered by city organizations, so that may limit some of the off-campus events students can choose from.</p>
<p>It hurt the real estate market, which may mean off-campus rents are cheaper (as a ripple effect).</p>
<p>On campus, I don't know. U-M immediately set aside $3 million to try to hire some of the top Pfizer researchers. They've also been active with a regional development group, and I think there have been over 20 new startups created by former Pfizer researchers. They're also working with the group who is shopping Pfizer's facility around. I think they've set aside some for wet-lab entrepreneurial space, but they're also looking for a big buyer who might want to move some R&D operations here.</p>
<p>Most of their huge complex on the outskirts of North Campus is a virtual ghost town. With the current economic climate, can't see a company taking on that kind of investment.</p>
<p>yeah, my mom works RIGHT by that pfizer building and said it's super depressing :(</p>