Officials from the country’s largest pharmacy benefit management company announced expansion of its Express Scripts Lab, part of an overall campus expansion that is expected to create 1,500 new jobs in St. Louis, Missouri, over the next five years.

The facility includes a newly remodeled and expanded research and development lab, as well as a 220,000-square-foot administrative office building, for a total capital investment of $56 million.

With the opening of The Express Scripts Lab, the company is adding 11,500 square feet to its Technology and Innovation Center. This will accommodate a team of researchers, pharmacists and analysts who derive unique insight from the data generated by more than 1 billion prescriptions Express Scripts processes annually, company officials said. Their work leads to innovative solutions that control pharmacy costs for employers and health plans, while improving health outcomes for patients.

“Express Scripts is a company that is proud to be born and raised in Missouri and we look forward to continuing our growth here,” said George Paz, Chairman/CEO, Express Scripts. “We are pleased to be a catalyst for economic growth in our region and across the state and we expect to do more in the future. Our mission to make the use of prescription drugs safer and more affordable has never been more important as we help tens of millions of American families live longer and better lives.”

With the addition of the Lab and Building 6, which houses the new administrative offices, the company has expanded its footprint to more than one million square feet in the St. Louis area. The larger campus will accommodate the company’s growing workforce, which currently includes 4,600 employees. The company is well on its way to adding 1,500 new jobs by 2018, and has already made great progress in hiring people for operations, information technology, and research positions.

To assist Express Scripts with its expansion in St. Louis, the Missouri Department of Economic Development offered a strategic economic incentive package that the company can receive if it meets strict job creation and investment criteria.

“The growth of Express Scripts is a great example of what happens when you foster an economic environment where strategic investments in information management, healthcare, and leading-edge technology are paired with an extraordinary company and an outstanding workforce,” Governor Jay Nixon said. “Together with our state’s pro-business climate and skilled workforce, the company’s expansion in Missouri will help pave the way for additional growth and job creation in the St. Louis area and beyond.”