BURLINGTON, NJ-Express Scripts Holding Co., which acquired Franklin Lakes, NJ-based Medco in a takeover last year, is seeking a $40-million tax credit under the state's Grow New Jersey program in connection with a new pharmaceutical plant it wishes to build here.

The property is over the border from the Willingboro plant run by its Medco Health Solutions subsidiary, according to company and state officials.

The St. Louis-based pharmacy benefits manager has cut approximately 900 jobs in New Jersey since last year, according to NJBiz.com. Express Scripts is looking to build a “state-of-the-art pharmacy” in Burlington Township, company officials say.

Brian Henry, a company spokesman, says the new facility is “part of what we continually do—we look for ways to grow responsibly and to be more efficient and deliver world-class service, and we feel that this investment would help us get there.”

Henry would not provide details on the size of the project or how many employees would be housed at the new facility. He also wouldn't say if the development of the new facility would result in the closure of the Willingboro plant. “It's the early stages, but I think if all of the stakeholders approve our proposal, we would anticipate that any currently interested employees that are there would have the opportunity to work at the new facility,” Henry says. He adds, “We're evaluating a number of different potential sites and it's an initial step in the process here, so we haven't made any decisions about anything yet.” See story at NJBiz.com.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.