By Leisa Zigman
ST. LOUIS (KSDK) - It might be the biggest business expansion news of the year in the St. Louis region.
Express Scripts plans a $50 million expansion at its corporate headquarters which will lead to 1,500 new jobs by 2018.
St. Louis beat out several other states for this expansion. The company has revenues of $93 billion a year and serves 100 million Americans.
Brian Henry, vice president of Corporate Communications, said its executives live in St. Louis and this news shows how committed the company is to the region.
Express Scripts is one of the largest pharmacy benefit management companies in North America. The company employs 30,000 people throughout the United States, headquartered near the University of Missouri-St. Louis campus in north St. Louis County.
In the St. Louis area, the company employees 4,500 people. In addition to being the corporate headquarters, the facility hosts a major home delivery pharmacy based out of its St. Louis campus.
In 2011, the company completed a $70 million expansion into its new headquarters. At that time, county officials reported the average salary at the company ranged from $40,000 to $60,000 per year. The new jobs could pay as much as $65,000 yearly.
If St. Louis County and the state of Missouri sign off on tax incentives, construction could begin later this year.
A formal announcement is expected Thursday.