A $200 million state-of-the-art facility will be the new home to biopharmaceutical company Pfizer Inc.

The company, which currently employs more than 450 people in Missouri, will consolidate its two St. Louis-are offices -- the Monsanto Chesterfield Village Research Center and the Missouri Research Park in St. Charles County -- onto the new campus. The company plans to add more than 80 new jobs at the new facility.

“Thanks to the support we’ve received from the state of Missouri, St. Louis County and Chesterfield, our new St. Louis laboratory facility will provide the right location and space as we continue to evolve our business over the coming years," said John Ludwig, senior vice president of BioTherapeutics Research for Pfizer.

Construction of the new campus is expected to begin in mid-2017 and be completed by 2020.

According to the St. Louis Business Journal, the state of Missouri is providing $5 million through the Missouri Works program and $800,000 through the Missouri Works Training program. The company is also expected to receive financial incentives from St. Louis County.