Harris County, TX — Bristol Myers Squibb plans to establish a new pharmaceutical manufacturing campus in the Houston area through an approximately $2.3 billion capital investment expected to create nearly 500 new jobs, Gov. Greg Abbott announced Monday.
According to the Governor’s Office, the New Jersey-based global biopharmaceutical company will establish the facility at Generation Park as part of its broader $40 billion commitment to expanding manufacturing capabilities in the United States.
Texas has extended Bristol Myers Squibb a $4.89 million Texas Enterprise Fund grant for the project. The expansion also qualifies under the Texas Jobs, Energy, Technology, and Innovation program, known as JETI.
Abbott said the investment reflects Houston’s growing biotechnology and life sciences sector, citing the region’s workforce, technical colleges, research universities and access to domestic and international markets.
Bristol Myers Squibb Board Chair and CEO Christopher Boerner said the company plans to build manufacturing capabilities needed for the next generation of medicines and future scientific developments.
Generation Park Management District Executive Director Jennifer Mott said the company’s decision followed a highly competitive process and further establishes Generation Park as a life sciences destination.
Sheldon ISD Superintendent Dr. Demetrius McCall also highlighted potential career and educational opportunities the project could create for students and families in the area.
The Texas Enterprise Fund is a performance-based economic development program used for qualifying relocation and expansion projects in which a Texas location is competing against sites outside the state.