New Jersey-based drugmaker Bristol Myers Squibb announced Monday that it will spend about $2.3 billion to build a new manufacturing facility … in Houston, Texas.
It’s part of a previously announced $40 billion commitment the Princeton-based company made to invest in the U.S.
The company said the project is expected to generate about 2,000 construction and related jobs between 2027 and 2030 as the campus is built and brought online. Once operational, it will create nearly 500 skilled jobs.
It’s unclear if any of those jobs will come from New Jersey.
This much is clear: The new site will be the type of facility New Jersey covets, a roughly 600,000-square-foot campus designed to manufacture small-molecule medicines as well as more complex drugs like biologics and antibody-drug conjugates. It will be able to be expanded or reconfigured as pipeline needs change, the company said.
Even more, Bristol Myers Squibb officials said it expects the site to expand beyond its initial footprint over time.
“This investment reflects our confidence in America’s continued leadership in biopharmaceutical innovation,” CEO Christopher Boerner said in a statement.
