Eli Lilly and Company is planning to build a new manufacturing plant in Concord, North Carolina. The company will invest $1 billion for the new site. Moreover, they are expecting to create almost 600 new jobs.  It also expects 500 more positions during building of the facility.

Local Expertise at Concord

The new facility will use the latest technology to manufacture parenteral (injectable) products and devices and increase the company’s manufacturing capacity. Therefore, Lilly chose Concord as it has extensive local labor force having experience of manufacturing technology. It also has great proximity to universities, technology, engineering and math programs. In addition, it has access to major transportation infrastructure as well. Additionally, Lilly also announced a $470 million investment in NC’s Research Triangle Park during 2020. In conjunction with the Research Triangle Park site, the new facility in Concord will allow the company to build strong ties with universities and local governments.

“Lilly’s choice brings more good jobs to North Carolina from one of our most important industries. North Carolina has become a premier hub for the world, thanks to our exceptional workforce and commitment to education.”. Governor Roy Cooper welcomed the investment. “Lilly is entering an exciting period of growth and we are committed to delivering innovative medicines to patients around the world”. Edgardo Hernandez, senior vice president and president at Lilly Manufacturing Operations said in his statement.

Investment Prospects

Lilly is currently running their manufacturing operations in North Carolina, Indiana, New Jersey and Puerto Rico. The average salary of the new positions will be $70,555. The current average wage at their site in Cabarrus County is $43,687. The project got support by a Job Development Investment Grant (JDIG) approved by North Carolina’s Economic Investment Committee. Over the 12-year term of the grant, the facility may grow North Carolina’s economy by $5.7 billion. Moreover, the company also announced plans on Jan. 28, 2022 to invest $500 million in a new biopharmaceutical manufacturing facility in Limerick, Ireland.

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