LAWRENCEVILLE, NJ—Global pharmaceutical firmBristol-Myers Squibb Co. reports it will besignificantly expanding its presence here with the planneddevelopment of a new 650,000-square-foot campus on company-ownedland at the intersection of Princeton Pike and Interstate 295.

Construction is expected to begin this fall with occupancyprojected at the end of 2016. The company's worldwide headquarters,which opened in 1971, is located at U.S. Route 206 and ProvinceLine Road. The new campus will allow the company to consolidateoperations in leased office space at 777 Scudders MillRoad in Plainsboro Township and at Nassau ParkBoulevard in West Windsor Township. The company currentlyemploys more than 2,000 people at the Route 206 headquarters campusand more than 6,000 in central New Jersey. Once work is completed,as many as 2,500 people will work at the new Lawrencevillefacility.

The Princeton Pike location was purchased by Bristol-MyersSquibb from RCN Corp. in 2001, company officials state.