Benzinga | Jun 22, 2021 11:40AM EDT

Philip Morris Moves Headquarters To Connecticut

* Cigarette and tobacco manufacturer Philip Morris International Inc (NYSE: PM) said it is relocating its corporate headquarters to Connecticut from New York.

* The move is expected to bring about 200 jobs to the state.

* The new headquarters will be operational by summer 2022.

* The headquarters will house the Americas teams and members of other corporate functions.

* "Connecticut offers a valuable mix of technological know-how, future-forward thinking, and an open-minded approach to problem-solving," said Jacek Olczak, Chief Executive Officer.

* Price action: PM shares are trading higher by 0.27% at $100.43 on the last check Tuesday.