Texas Border Business
AUSTIN – Governor Greg Abbott announced Bristol Myers Squibb (NYSE: BMY) will establish a new pharmaceutical manufacturing campus in Houston, with a capital investment of approximately $2.3 billion that will create nearly 500 new jobs. A Texas Enterprise Fund (TEF) grant of $4.89 million has been extended to Bristol Myers Squibb. The expansion is also a qualified project under the Texas Jobs, Energy, Technology, and Innovation (JETI) program.
“Texas is a global hub for life sciences, where today’s innovations shape the future of healthcare,” said Governor Abbott. “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. With lower operating costs and easy access to markets across the U.S. and the world, Texas drives affordability for consumers.”
Bristol Myers Squibb is a New Jersey-based global biopharmaceutical company focused on discovering, developing, and delivering innovative medicines that help patients prevail over serious diseases.
“This investment reflects our confidence in America’s continued leadership in biopharmaceutical innovation,” said Bristol Myers Squibb Board Chair and CEO Christopher Boerner, Ph.D. “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. Houston and the state of Texas offer the talent, infrastructure, and partnership needed to help bring that vision to life.”
“We proudly welcome Bristol Myers Squibb, another leading global pharmaceutical company, to Generation Park,” said Generation Park Management District Executive Director Jennifer Mott. “This highly competitive process validates the role our site plays as a vital life science asset both in Texas and nationally. Our commitment to critical investments in infrastructure and a curated ecosystem continues to attract high-value industry clusters that drive long-term prosperity for the region.”
“Sheldon Independent School District is excited about the opportunities Bristol Myers Squibb will create for student success and future career pathways,” said Sheldon ISD Superintendent Dr. Demetrius McCall. “Investments like this help connect classroom learning to real-world opportunities, preparing our students to thrive in a rapidly growing and innovative economy. We believe the impact of this project will open doors for generations of students and families for many years to come.”
“Bristol Myers Squibb’s announcement is a tremendous win for Texas and the Houston region, further reinforcing our position as a premier destination for life sciences and advanced manufacturing,” said Greater Houston Partnership President and CEO Steve Kean. “Supported by world-class talent, infrastructure, and industry expertise, this investment will create hundreds of high-quality jobs and strengthen Houston’s standing as a leading hub for life sciences innovation and investment.”
View more information about Bristol Myers Squibb.
TEF is a performance-based grant, administered by the Texas Economic Development & Tourism Office within the Office of the Governor, that may be awarded to a business relocation or expansion project for which one Texas site is in competition with out-of-state locations to create new, good-paying jobs in the community and attract significant new capital investment to the state.
Governor Abbott signed House Bill 5 into law following 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 Texas jobs while ensuring robust reporting and transparency.
