EXCLUSIVE: White House, leaders hail BMS ‘game changer’ $2.3 billion investment as sign Working Families Tax Cut is delivering
Bristol Myers Squibb’s announcement that it will invest $2.3 billion in a new manufacturing facility in Texas is drawing praise from the White House and policy leaders who say the investment is another sign that companies are betting on American manufacturing.
BMS announced Monday that it selected Houston for a new 600,000-square-foot advanced manufacturing campus that will produce small molecule medicines, biologics and antibody-drug conjugates.
BMS’s announcement follows a series of similar announcements from major companies like Meta, Ford, Google, and JP Morgan announcing investments in America, following the passage of the Republicans’ Working Families Tax Cut.
The investment is expected to create nearly 500 permanent skilled jobs, along with approximately 2,000 construction-related jobs between 2027 and 2030.
The Coalition for Affordability and Prosperity, one of the leading conservative policy organizations in D.C., told the Washington Reporter that the announcement is a major win for American workers and President Donald Trump’s economic agenda.
“This investment is a game-changer, as these are going to be highly-paid jobs,” a CAP spokesman told the Reporter. “It’s a sign that President Trump and Republicans’ economic policies like the Working Families Tax Cut are working, and that companies believe they can get a great return by investing in America.”
The White House also quickly celebrated the announcement.
The official White House account highlighted the investment Monday, while White House Press Secretary Karoline Leavitt called it the “Trump Effect.”
White House spokesman Kush Desai pointed to the announcement as evidence that the administration is simultaneously working to lower prescription drug prices and bring pharmaceutical manufacturing back to the United States.
BMS has already committed to investing $40 billion over five years in research, development, technology and manufacturing in the United States. The White House has repeatedly highlighted that commitment as part of a broader surge in domestic investment under Trump.
The company is also participating in TrumpRx, the president’s signature effort to lower prescription drug costs for American patients.
BMS was one of nine major pharmaceutical manufacturers that reached an agreement with the Trump administration last year to lower prices for American patients. Under the agreement, BMS agreed to offer medicines at significant discounts through TrumpRx, including reducing the direct-purchase price of the HIV medication Reyataz from a list price of $1,449 to $217.
TrumpRx has emerged as one of the administration’s most popular health care initiatives. The program gives patients access to lower-cost prescription drugs through agreements negotiated with manufacturers, while the administration has also pushed foreign countries to pay more for American-developed medicines.
The Washington Reporter has extensively covered Republican support for TrumpRx, including Sen. Eric Schmitt (R., Mo.), who told the Reporter that the program is helping drive down prescription costs.
“You’ve had prescription costs go way down,” Schmitt said. “Having direct access to that portal so that people can buy the drugs that they need, and having it be cheaper is important.”
The new Houston facility will be located at Generation Park and is expected to be completed around 2030. BMS said it designed the campus to allow additional manufacturing capacity and jobs to be added in the future.
The company said the investment reflects its confidence in the United States as the global leader in biopharmaceutical innovation.
