Pfizer plans $200M building, consolidation in St. Louis area

CHESTERFIELD, Mo. -- Drugmaker Pfizer Inc. said it will consolidate its St. Louis-area research and development operations into a new $200 million laboratory building in Chesterfield.

The decision announced Tuesday is expected to create more than 80 jobs and retain more than 450 employees in the region. That's where New York-based Pfizer has had operations for more than 13 years.

Construction of the new building is expected to begin next year.

The St. Louis Post-Dispatch reported the state of Missouri and St. Louis County are offering the company an incentive package. The state's Department of Economic Development said if Pfizer meets job-creation thresholds, it could tap $5 million through the state's Missouri Works program and $800,000 through the Missouri Works Training program.