Pharmacy benefits manager Express Scripts is planning a $56 million expansion of its corporate headquarters in the St. Louis area.

Company officials said Wednesday St. Louis beat out several other states for the expansion, which is expected to create 1,500 new jobs by 2018.

A formal announcement was expected Thursday. Construction could begin later this year if the state and St. Louis County approve $56 million in tax incentives.

Express Scripts is headquartered in northern St. Louis County, near the campus of the University of Missouri-St. Louis. The company has 30,000 employees nationwide, including 4,500 in the St. Louis area.

Last year’s acquisition of Medco Health Solutions made Express Scripts Holding Co. the largest pharmacy benefits manager, handling more than a billion prescriptions annually.

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