Express Scripts expansion approved for $3M in state funding
St. Louis Business Journal
October 21, 2009
The Missouri Development Finance Board approved Tuesday morning $3 million in Missouri BUILD bonds sought by Express Scripts for an expansion in north St. Louis County.
The pharmacy benefits manager , led by Chairman, President and CEO George Paz, wants to use the funding to add a third facility at NorthPark Business Park, near its office campus at the University of Missouri-St. Louis.
The state of Missouri is competing with Pennsylvania for a new $60 million, 221,000-square-foot pharmaceutical dispensing facility and an expected 270 new jobs.
St. Louis County is competing with a proposal from Bucks County, Pa., which is offering tax breaks and where Express Scripts already operates two facilities.
The BUILD program provides state tax credits to businesses in the amount of debt service payments for industrial revenue bonds related to a portion of project infrastructure costs.
Bel-Ridge, Mo.-based Express Scripts (Nasdaq: ESRX) is a pharmacy benefits manager that administers prescription drug programs for health plans, government and corporations.
