Another pharmaceutical heavyweight is considering Houston for its domestic manufacturing operations, following several high-profile announcements last year.
E.R. Squibb & Sons LLC, which is part of Bristol Myers Squibb Co. (NYSE: BMY), has filed a tax abatement application through the Texas Jobs, Energy, Technology and Innovation (JETI) program, which offers 10-year tax abatements on school district property taxes.
If approved, Bristol Myers Squibb would see its taxes abated in Sheldon Independent School District, because the site it’s considering is in McCord Development’s Generation Park Management District, a mammoth development in northeast Houston that has set its sights on luring major pharmaceutical companies to the Bayou City.
The New Jersey-based drugmaker is promising an investment of $1 billion over a three-year period beginning in 2027 for a 600,000-square-foot campus. Bristol Myers Squibb has shortlisted 16 sites in three states.
The Houston site would be in the area of Aqueduct Road between Lake Houston Parkway and Garrett Road, southeast from McCord Development’s headquarters on Assay Street.
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