Make us your home page
Instagram

Major drugmaker Bristol-Myers Squibb picks Hillsborough for nearly 600 jobs

Major pharmaceutical company Bristol-Myers Squibb plans to open a 70,000-square-foot facility in Hillsborough County and fill it with nearly 600 employees averaging $65,000 in annual wages.

The company announced late Thursday that it expects to move into its "North America Capability Center" in January at a to-be-determined location.

Area economic leaders, already riding a recent wave of business successes — including new international flights from Tampa International Airport — cheered the arrival of Bristol-Myers Squibb as a particular coup. The drug company is a global brand, No. 158 on the Fortune 500 of major corporations. But it is also expected to play a significant role in Tampa Bay's fast-emerging health care and personalized medicine industry now anchored by USF Health, H. Lee Moffitt Cancer Center, M2Gen and others.

Bristol-Myers Squibb's site selection team met with those cutting edge medical organizations, which helped persuade the company to expand here, said Rick Homans, CEO of the Tampa/Hillsborough Economic Development Corp.

"Everyone at the EDC is on cloud nine," Homans said. "This is why I came here — for this kind of project."

Bristol-Myers Squibb, based in Princeton, N.J., and New York City, said its center will be staffed at first by about 250 workers in information technology, marketing and business services, and other functions supporting the company's bio-pharmaceutical business in the United States.

Most of those positions will be filled by people living in the Tampa Bay area.

By 2017, the company also plans to locate more than 325 additional jobs supporting scientific and technical activities at the site, the firm stated.

With nearly $18 billion in annual revenues and 28,000 employees, Bristol-Myers Squibb chose Hillsborough and the Tampa Bay market after considering potential locations in the central and eastern time zones. North Carolina was among the most serious competitors.

Hillsborough County commissioners approved more than $2 million to help recruit the pharmaceutical company. Those funds will complement a state incentive package. If the company creates all of the promised jobs, it could get about $6 million in total incentives paid out over several years.

Gareth Morgan, a Bristol-Myers Squibb senior vice president, said his company evaluated many locations before deciding that Florida was the "best state for our new facility." The company chose Hillsborough County, he said, for its "talented work force, strong university presence, the Tampa Bay region's business climate, economy and quality of life, and availability of the necessary logistics and office facilities."

Gov. Rick Scott called the company's decision to expand to Tampa "great news" for Florida and proof that "companies are taking notice of our economic turnaround."

"This announcement signals that Florida has the resources necessary to support the operations of the biggest companies in the world," added Gray Swoope, Florida commerce secretary and CEO of Enterprise Florida, the state's business recruiting arm.

Ken Hagan, chairman of the Hillsborough Board of County Commissioners, praised the project as a testament to the region's growing life sciences industry.

He also credited the collaboration between the company, the county and Enterprise Florida, the Tampa Hillsborough EDC and the Tampa Bay Partnership — the region's economic marketer that first got the tip that Bristol-Myers Squibb was looking to expand.

County documents show the company expects to generate up to $21.2 million in capital investment at its new location. At full staff, it will have a payroll topping $37 million, with wages averaging 157 percent of Florida's private sector average wage.

So now that Hillsborough has landed the drug company, what exactly is the "North American Capability Center" going to be?

The company says the center, the first in the country, will encourage an innovative and entrepreneurial culture.

"In short, the North America Capability Center will help us improve the overall quality and efficiency of our internal services and enable us to reinvest in our core business," said spokesman Frederick J. Egengolf.

"The Tampa market, with its pool of highly skilled workers and competitive costs, is an ideal location for the center. The investments we make now, particularly by increasing our commercial investment in diabetes and research and development investment in our exciting immuno-oncology portfolio, will help sustain our position as a BioPharma leader," he said.

Some of Bristol-Myers Squibb's bestselling medicines are Yervoy (metastatic melanoma), Orencia (rheumatoid arthritis), Sprycel (chronic myeloid leukemia), Baraclude (hepatitis B) and Onglyza and Bydureon for type 2 diabetes.

Combined, its Abilify (depression and bi-polar disorder) and Plavix (blood thinner to prevent heart attacks) drugs generated more than $5 billion in sales last year.

At the EDC Thursday evening, Homans rattled off a long list of area medical innovators, including Draper Lab and Johns Hopkins-affiliated All Children's Hospital in St. Petersburg, that may benefit from the arrival of Bristol Myers-Squibb.

Said Homans: "They have come to be part of this community."

Robert Trigaux can be reached at trigaux@tampabay.com.

.FAST FACTS

Bristol-Myers Squibb at a glance

CEO: Lamberto Andreotti

Headquarters: Princeton, N.J., and New York City

Stock ticker: BMY

Net sales: $17.6 billion

in 2012

R&D investment: $3.9 billion in 2012

Honor: In 1999, President Bill Clinton awarded it the National Medal of Technology, the nation's highest recognition for technological achievement.

Major drugmaker Bristol-Myers Squibb picks Hillsborough for nearly 600 jobs 07/18/13 [Last modified: Thursday, July 25, 2013 4:35pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Federal agencies demand records from SeaWorld theme park

    Tourism

    ORLANDO — Two federal agencies are reportedly demanding financial records from SeaWorld.

    Killer whales Ikaika and Corky participate in behaviors commonly done in the wild during SeaWorld's Killer Whale educational presentation in this photo from Jan. 9. SeaWorld has been subpoenaed by two federal agencies for comments that executives and the company made in August 2014 about the impact from the "Blackfish" documentary. 
[Nelvin C. Cepeda/San Diego Union-Tribune/TNS]
  2. Legalized medical marijuana signed into law by Rick Scott

    State Roundup

    TALLAHASSEE — Gov. Rick Scott on Friday signed into law a broader medical marijuana system for the state, following through on a promise he made earlier this month.

    Gov. Rick Scott signed legislation on Friday that legalizes medical marijuana in Florida.
  3. Line of moms welcome Once Upon A Child to Carrollwood

    Business

    CARROLLWOOD — Strollers of all shapes and sizes are lined up in front of the store, and inside, there are racks of children's clothing in every color of the rainbow.

    At Once Upon A Child, you often as many baby strollers outside as you find baby furniture and accessories. It recently opened this location in Carrollwood. Photo by Danielle Hauser
  4. Pastries N Chaat brings North India cuisine to North Tampa

    Business

    TAMPA — Pastries N Chaat, a new restaurant offering Indian street food, opened this week near the University of South Florida.

    The menu at Pastries N Chaat includes a large variety of Biriyani, an entree owners say is beloved by millions. Photo courtesy of Pastries N Chaat.
  5. 'Garbage juice' seen as threat to drinking water in Florida Panhandle county

    Water

    To Waste Management, the nation's largest handler of garbage, the liquid that winds up at the bottom of a landfill is called "leachate," and it can safely be disposed of in a well that's 4,200 feet deep.

    Three samples that were displayed by Jackson County NAACP President Ronstance Pittman at a public meeting on Waste Management's deep well injection proposal. The sample on the left is full of leachate from the Jackson County landfill, the stuff that would be injected into the well. The sample on the right shows leachate after it's been treated at a wastewater treatment plant. The one in the middle is tap water.