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Gov. Haley Barbour and the company officials made the announcement Tuesday.
Barbour says the company will bring 306 new jobs to the state over the next three years.
McKesson, based in San Francisco, will build the facility. It will be moving from a warehouse in Memphis, Tenn.
The Mississippi Development Authority is providing $4 million for infrastructure improvements and to assist with preparation costs for the project.
The city of Olive Branch is contributing up to $260,500 for infrastructure improvements and in-kind services, and DeSoto County is providing $250,000 for infrastructure improvements.
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