Philip Morris International is moving its corporate headquarters from New York to Fairfield County.

The company said Tuesday that the relocation will bring about 200 new jobs to Connecticut. The new office will include employees on the Americas teams and members of other corporate functions. Its operations center will stay in Lausanne, Switzerland.

“Connecticut offers a valuable mix of technological know-how, future-forward thinking, and an open-minded approach to problem-solving,” CEO Jacek Olczak said in a statement. ““We are amid a profound transformation at [Philip Morris International] and our new base in Connecticut will serve to accelerate our progress. Beyond replacing cigarettes with better alternatives, we intend to draw on our expertise in life and medical sciences to develop solutions in areas that include respiratory drug delivery and botanicals.”

Philip Morris split off from Altria years ago. The breakup gave it more leeway to pursue sales growth in emerging markets. Philip Morris has handled international sales for Marlboro cigarettes and has churned out new Marlboro-branded products catering to local tastes in Asia, Europe, Latin America and other regions.

But like many companies dealing with declining cigarette sales, it has been investing in alternatives. This includes a heat-not-burn cigarette option, iQOS.

Philip Morris’ new headquarters are expected to be running by the summer of 2022, although its specific location has not yet been disclosed.

The Fairfield County office market has continued to see weakness in its occupancy rates and rents over the last year, despite rosy predictions from Gov. Ned Lamont and others that the area – and Connecticut as a whole – was well-positioned to capture companies fleeing New York City for less-crowded and cheaper locations.