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Bristol Myers Squibb—a biopharmaceutical company—is considering building a roughly 600,000-square-foot manufacturing facility in McCord Development's Generation Park, according to a May 16 tax incentive application posted on the Texas Comptroller's website.
The details: The pharmaceutical company—which produces medications such as Eliquis, a blood thinner, and Opdivo, a cancer treatment, according to the company’s website—filed a tax abatement application through the Texas Comptroller’s Jobs, Energy, Technology and Innovation program.
The proposed project would create around 490 new jobs, per the application.
The timeline: According to the application, construction on the project would begin in 2027 and wrap up in 2029, with commercial operations beginning in 2030. The incentive period would run from 2030-39
The impact: In the application, company officials noted that total capital investment in the project is estimated to be approximately $1 billion.
Some context: In September, pharmaceutical company Eli Lilly and Company—or Lilly—announced its plans to build a $6.5 billion manufacturing facility in the community, as previously reported by Community Impact.
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