Gov. Greg Abbott announced Aug. 10 that Bristol Myers Squibb will establish a new pharmaceutical manufacturing campus in Houston, a capital investment of approximately $2.3 billion that is expected to create nearly 500 new jobs, according to a news release from the governor’s office.
The New Jersey-based biopharmaceutical company will receive a $4.89 million Texas Enterprise Fund grant, and the expansion qualifies under the Texas Jobs, Energy, Technology, and Innovation program, the release said.
“Texas is a global hub for life sciences, where today’s innovations shape the future of healthcare,” Abbott said in the release. “This $2.3 billion investment by Bristol Myers Squibb in the dynamic biotech ecosystem in Houston is a testament to the depth of our skilled workforce and the pipeline of talent coming through our nation-leading technical colleges and research universities.”
Bristol Myers Squibb Board Chair and CEO Christopher Boerner, Ph.D., said the project reflects the company’s confidence in American biopharmaceutical innovation. “As part of our $40 billion commitment to the United States, we’re building the domestic manufacturing capabilities needed to deliver the next generation of medicines and support future scientific breakthroughs,” Boerner said in the release. “Houston and the state of Texas offer the talent, infrastructure, and partnership needed to help bring that vision to life.”
The campus will be located at Generation Park in northeast Houston. Generation Park Management District Executive Director Jennifer Mott said in the release that the “highly competitive process validates the role our site plays as a vital life science asset both in Texas and nationally.” Sheldon ISD Superintendent Dr. Demetrius McCall said the investment will “open doors for generations of students and families” by connecting classroom learning to career pathways, and Greater Houston Partnership President and CEO Steve Kean said the project will create hundreds of high-quality jobs and strengthen Houston’s standing as a hub for life sciences innovation.
The Texas Enterprise Fund is a performance-based grant administered by the Texas Economic Development & Tourism Office within the Office of the Governor, awarded to relocation or expansion projects in which a Texas site competes with out-of-state locations, according to the governor’s office. The JETI program, created when Abbott signed House Bill 5 following the 88th Regular Legislative Session, is designed to attract large, capital-intensive economic development projects to the state.