Bristol Myers Squibb Unveils $2.3B Houston Life Science Project

Global pharmaceutical company Bristol Myers Squibb will build a 600,000-square-foot manufacturing facility at McCord Development’s Generation Park in Houston. The project represents a $2.3 billion investment in the new manufacturing campus, which will join a larger mixed-use development.

BMS’ new asset will be a multi-modal manufacturing facility that will produce different types of medicines including small molecules, biologics and antibody-drug conjugates for different diseases. Flexibility will be built into the project to allow the campus to grow to meet patient demands, BMS said.

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The new facility is part of the company’s strategy to invest $40 billion over five years in the U.S. for research and development, technology and domestic manufacturing. The project will generate about 2,000 construction and other indirect jobs between 2027 and 2030, with the campus set to employ approximately 500 people.

BMS had been exploring multiple markets across the Central and Eastern U.S. for its next investment. The company cited Houston’s growing life sciences workforce, available incentives, proximity to utilities and transportation infrastructure as factors in selecting Generation Park for the project.

An inside look at Generation Park

Generation Park is a 4,300-acre development in Houston, which McCord has been building out for over a decade. In recent years, McCord has expanded its focus on life sciences and biomanufacturing at the site. In 2023, Commercial Property Executive reported McCord was developing BioHub Two, a speculative 45-acre, 500,000-square-foot biomanufacturing facility with five development sites.

Aside from life science uses, Generation Park includes office, education, industrial and multifamily components.

In May 2025, Eli Lilly and Co. was considering the district for a $5.9 billion biomanufacturing plant on 236 acres as part of the company’s $27 billion plan to more than double its U.S. manufacturing investment. Since then, the firm has committed to the site and increased its investment to more than $6.5 billion. Construction on the plant is slated for completion by 2030.

Both BMS and Eli Lilly have utilized state incentive programs in connection with their Generation Park investments. BMS received a $4.89 million Texas Enterprise Fund grant, while Eli Lilly received $5.5 million through the same fund. Both projects also qualified under the state’s Jobs, Energy, Technology and Innovation program.