Missouri Development Finance Board approves bonds for Express Scripts expansion

Tuesday, October 20, 2009 | 3:45 p.m. CDT

ST. LOUIS — The Missouri Development Finance Board has voted unanimously to approve $3 million in bonds for a possible Express Scripts expansion in suburban St. Louis.

The nation's largest pharmacy benefits manager, Express Scripts, is deciding whether to build a new $60 million drug distribution center in Missouri or Pennsylvania.

The finance board's vote Tuesday was the final step in approving bonds from the BUILD program, which provides incentives for the creation or expansion of large business projects in Missouri. Applicants for the incentives need to invest $15 million in capital improvements and create at least 100 new jobs in three years.

Express Scripts did not immediately return a phone call seeking comment on the vote.

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