Editor's note: This article has been updated to include comments from Partnership Lake Houston officials.
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 project would be located on Aqueduct Road in Generation Park, which is housed within Sheldon ISD’s boundaries, according to the filing. If approved, the program would offer a 10-year tax abatement on the school district property taxes.
According to the application, Bristol Myers Squibb’s proposed project would consist of the construction of multiple buildings and outdoor facilities, the installation of machinery and equipment, and the construction of critical infrastructure.
Officials noted in the application that the campus would be designed for growth.
“The campus is designed from the ground up for growth,” officials stated in the application. “Its modular, expandable architecture enables new manufacturing capabilities to be added rapidly as the applicant’s pipeline and commercial needs evolve. The initial approximately 600,000-square-foot phase is a foundation, not a ceiling.”
The proposed project would create around 490 new jobs, per the application. Positions would include:
- Operations technicians
- Production specialists
- Maintenance support
- Quality control
- Engineering
- Product development
- Administration
- Management
While the project is not yet confirmed, a Bristol Myers Squibb spokesperson said via a May 18 emailed statement that the company is researching markets in the central and eastern U.S. for potential “domestic manufacturing investment.”
“BMS is committed to investing $40 billion over five years in U.S. research and development, technology and domestic manufacturing to strengthen our national presence, accelerate innovation and deliver for our patients,” a BMS spokesperson said.
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, which includes real property acquisition, building construction, and machinery and equipment investments.
In a May 18 emailed statement, McCord Development officials noted they could not comment on “current or future” projects due to confidentiality requirements. However, officials said the company is concentrating on fueling economic development in Harris County.
“Generation Park continues to attract interest from life sciences and advanced manufacturing projects, driven by its unique combination of resilient infrastructure, curated amenities and access to a highly skilled workforce,” a McCord Development spokesperson said.
According to an economic benefit statement prepared for the project by Impact DataSource LLC, the site is projected to directly generate $210.67 million annually at full operations in 2031 and $10.38 billion for the full 38-year period.
Gregg Mielke, Partnership Lake Houston board chair, said the area presents a strong opportunity for investment in the life sciences and biomedical industries.
“Supported by a skilled workforce and respected educational institutions—including Humble Independent School District, Sheldon Independent School District, Lone Star College, and San Jacinto College—the region is well-positioned to attract and sustain growth in these sectors," Mielke said.
Owen Rock, PLH executive vice president of economic development, said the company moving to Generation Park would be a tremendous win for the area.
“A project of this scale would bring high-quality jobs, strengthen our growing life sciences sector, and further prove that northeast Houston is one of the most competitive places in the country for advanced manufacturing and innovation,” Rock said. “We would be proud to welcome Bristol Myers Squibb to our community.”
Some context
Generation Park is a 4,300-acre master-planned community located in northeast Houston. 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.
The community also expanded its life sciences offerings in 2024 with the construction of the San Jacinto College Center for Biotechnology and infrastructure improvements that cleared the way for BioHub Two, a 45-acre biomanufacturing campus planned for the development.
Hannah Brol contributed to this report.
