Texas: Governor Abbott Announces Bristol Myers Squibb Expansion In Harris County

~ Houston, Texas - Governor Greg Abbott has announced that Bristol Myers Squibb (NYSE: BMY) will be establishing a new pharmaceutical manufacturing campus in Houston. This expansion is expected to bring in a capital investment of approximately $2.3 billion and create nearly 500 new jobs. To support this project, the Texas Enterprise Fund (TEF) has extended a grant of $4.89 million to Bristol Myers Squibb. The company's expansion also qualifies as a project under the Texas Jobs, Energy, Technology, and Innovation (JETI) program.

In his statement, Governor Abbott highlighted Texas' position as a global hub for life sciences and its role in shaping the future of healthcare through innovation. He also praised the state's skilled workforce and pipeline of talent from leading technical colleges and research universities. With lower operating costs and easy access to markets across the U.S. and the world, Governor Abbott emphasized that Texas drives affordability for consumers.

Bristol Myers Squibb is a New Jersey-based global biopharmaceutical company that focuses on discovering, developing, and delivering innovative medicines to help patients overcome serious diseases. The company's Board Chair and CEO Christopher Boerner, Ph.D., expressed confidence in America's continued leadership in biopharmaceutical innovation through this investment. As part of their commitment to investing $40 billion in the United States, Bristol Myers Squibb is building domestic manufacturing capabilities to support future scientific breakthroughs.

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Jennifer Mott, Executive Director of Generation Park Management District, welcomed Bristol Myers Squibb to their site and highlighted its role as a vital life science asset both in Texas and nationally. She also mentioned their commitment to critical investments in infrastructure and a curated ecosystem that continues to attract high-value industry clusters for long-term prosperity in the region.

Dr. Demetrius McCall, Superintendent of Sheldon Independent School District (ISD), expressed excitement about the opportunities this investment will create for student success and future career pathways. He believes that investments like this will help connect classroom learning to real-world opportunities, preparing students for a rapidly growing and innovative economy. Dr. McCall also emphasized the long-term impact of this project on generations of students and families.

Steve Kean, President, and CEO of Greater Houston Partnership, also praised Bristol Myers Squibb's decision to invest in Texas and the Houston region. He highlighted the area's world-class talent, infrastructure, and industry expertise as key factors in attracting this investment. Kean believes that this project will create hundreds of high-quality jobs and strengthen Houston's position as a leading hub for life sciences innovation and investment.

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The Texas Economic Development & Tourism Office within the Office of the Governor administers TEF, a performance-based grant that is awarded to businesses relocating or expanding in Texas. The grant aims to create new, good-paying jobs in the community and attract significant new capital investment to the state. Additionally, Governor Abbott signed House Bill 5 into law after the 88th Regular Legislative Session, creating the JETI program to attract large, capital-intensive economic development projects that bring new capital investment and create new, good-paying jobs while ensuring robust reporting and transparency.

This announcement by Bristol Myers Squibb is a significant win for Texas and the Houston region as it further solidifies their position as a premier destination for life sciences and advanced manufacturing. With support from state programs like TEF and JETI, Texas continues to attract high-value investments that drive economic growth and job creation.

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