Express Scripts Announces Plan to Build Fourth Building at Headquart... ( ST. LOUIS Dec. 17 2010 /- Express Scr...)

Express Scripts Announces Plan to Build Fourth Building at Headquarters Campus

Date:12/17/2010

ST. LOUIS, Dec. 17, 2010 /PRNewswire/ -- Express Scripts, Inc. (Nasdaq: ESRX), today announced plans to build a 227,000-square-foot structure in the NorthPark development area — the third office building and fourth facility at its headquarters campus in North St. Louis County.

(Logo: http://photos.prnewswire.com/prnh/20080827/EXPRESSSCRIPTSLOGO)

The company also announced results from a recent independent study that found Express Scripts generates about $1 billion in economic benefits for Missouri each year. Edward C. Lawrence, Ph.D., finance professor at the University of Missouri–St. Louis College of Business, conducted the study.

"As the report shows, Express Scripts provides significant financial benefit to Missouri ― nearly $1 billion in 2010 ― and is poised to continue these high-value contributions to the state over the next decade," Dr. Lawrence said. "The expansion of its headquarters is another step in the mutually beneficial partnership between the company and the state."

The academically rigorous analysis of company data shows that Express Scripts generated more than $986 million in economic contribution to St. Louis and Missouri in 2010. This includes:

$902 million in spending by the company, its suppliers and related parties

3,858 jobs at the company, with an additional 2,048 created indirectly

$59 million in new capital expenditures

$25.5 million in taxes

In addition, conservative projections for spending and growth indicate that the company will produce $10.5 billion in economic benefits over the next decade for the St. Louis metropolitan area and state of Missouri.

The site of the new facility is near the Express Scripts Technology & Innovation Center, which formally opened in June, and
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SOURCE Express Scripts, Inc.
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