Missouri Approves $6.8 Million in Tax Breaks for Express Scripts
ST. LOUIS, Mo. (KMOX) — Express Scripts, the nation’s leading pharmacy benefit manager, is one step closer to a planned expansion of its north St. Louis County campus.
The Missouri Development of Finance Board approved Tuesday $6.8 million in bonds to help finance the 225,000-square-foot building, which is said to house over a thousand new jobs once completed.
Express Scripts now awaits additional tax incentive legislation from St. Louis County. A vote on the nearly $9.2 million in real estate personal property and sales tax abatement is expected Tuesday tonight at the county’s regularly scheduled board meeting.
If all incentives are approved, Express Scripts plans to break ground later this fall, with the project being completed by middle of 2014.
“I am very proud that this long-time Missouri company has chosen to significantly expand its footprint in the Show-Me State and I look forward to celebrating more good news as this project develops,” Gov. Nixon said.
Express Scripts is responsible for the pharmacy benefits for more than 100 million members and managed 1.4 billion prescriptions last year alone. The company applies technology to the practice of pharmacy to make the use of prescription drugs safer and more affordable.