CONCORD, N.C. (WNCN) – Cabarrus County will be the home to a new $1 billion manufacturing facility after an investment from pharmaceutical company Eli Lilly and Company. Gov. Roy Cooper announced the facility would bring 600 new jobs to the area.
“North Carolina has become a premier hub for the world, thanks to our exceptional workforce and commitment to education,” Cooper said in a statement.
Lilly is headquartered in Indianapolis, Indiana. The company has developed treatments like insulin and, more recently, a COVID-19 infusion treatment.
The governor’s office said the new facility in Concord would manufacture injectable products and devices. They said the new site would help strengthen their connection with local universities and provide a workforce development network. In 2020, the company announced a new facility at Research Triangle Park.
“Expanding our manufacturing footprint in North Carolina enables us to continue to produce today’s medicines while providing additional capacity to manufacture the medicines of tomorrow. We are pleased to again partner with North Carolina to bring jobs to American workers and provide more medicines that patients need to address health challenges,” said Edgardo Hernandez, senior vice president and president, Lilly Manufacturing Operations.
The governor’s office said the average salary for new positions at the facility would be $70,555. They noted the current average wage in Cabarrus County was $43,687.
The project is expected to grow the state’s economy by $5.7 billion over the next 12 years. A grant program would potentially reimburse Lilly up to $12 million over 12 years for their investment.