It may not be as large and significant as the expansion of its biologics plant, but Bristol-Myers Squibb ($BMY) will open a new facility in Florida to support operations, including manufacturing. It will consolidate more than 575 jobs there in the process.
BMS is getting $2.1 million in tax incentives to open the 70,000 square-foot North American Capability Center in Hillsborough County. The facility will incorporate jobs in information technology, marketing and finance now strung across other operations, spokesman Frederick Egenolf told The Tampa Tribune. It expects to open in January with 250 jobs and grow to 579 over three years. There was no price tag attached to the project, but BMS told the county officials handing out the tax breaks that the operation will have a $37.6 million payroll and spin off $21.2 million in capital investment.
BMS in April said it would put up $250 million to expand its biologics operations in Devens, MA. That project will add R&D and clinical trial manufacturing capabilities to the facility where it manufactures its injectable rheumatoid arthritis treatment Orencia, one of its best-selling drugs. "Biologics are increasingly important in the treatment of serious diseases and are a growing part of our company's pipeline of potential new therapies," said Lou Schmukler, Bristol-Myers president of global manufacturing and supply. He said combining R&D with manufacturing should allow Bristol-Myers to get those drugs to market faster.
The Devens project will add two buildings and 200,000 square feet of space to the campus, which currently comprises 6 buildings and 400,000 square feet. Construction will begin late this year and is slated to be complete in 2015, and about 350 jobs will be added over time.
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