Bristol-Myers Squibb Won't Build Plant in North Carolina

Handing a setback to North Carolina, Bristol-Myers Squibb has decided to build a new biologics manufacturing facility in Massachusetts, the company said Thursday.

North Carolina leaders had lobbied intensely to land the new plant.

Instead, Bristol-Myers Squibb said it had selected a site in Devens, MA., which is just west of Boston.

The plant, which is expected to cost more than $1 billion and employ more than 700 people, is expected to open in 2009.

Bristol-Myers Squibb said a final commitment to construct the plant is "subject to final agreement between the company and the state." Construction is expected to begin in September.