Missouri approved $6.8 million in tax incentives Tuesday for St. Louis-based Express Scripts to expand.
The pharmaceutical benefits company is set to add 1,500 jobs, and plans to spend the next year constructing a 220,000 square foot building in North St. Louis County.
“Incentives are an option that are on the table for businesses," Express Scripts spokesperson Brian Henry said. "And we evaluate those as we consider our expansion. So for us, incentives are a way for us to drive the business and continue to drive what we do for business and clients.”
Henry said the expansion is worth the tax breaks.
“If you look at the economic impact we have, it’s a billion dollars a year here in the local area," Henry said. "That’s the type of economic impact that we have as a company, that our employees have working here. And we feel that’s an important reason for the investment the county and the state have made in us.”
Express Scripts is hoping to have the building complete by this time next year, with hiring continuing over the next 5 years.
The St. Louis County Council will meet Tuesday night for final approval of its roughly $9 million tax incentives.
Follow Chris McDaniel on Twitter: @csmcdaniel