Local

Could $1B Pharma operation make region a bigger player in life sciences?

By Charlotte Business Journal

Pharmaceutical giant Eli Lilly and Co. is taking a more-than 400-acre site at The Grounds at Concord for its $1 billion manufacturing operation at the site of the former cigarette plant. COURTESY CABARRUS ECONOMIC DEVELOPMENT CORP.

By Charlotte Business Journal

CONCORD, N.C. — Just over six months after announcing the largest economic development project in Cabarrus County’s history, another one has been revealed that is a close second. Both are located at The Grounds at Concord, the former Philip Morris site, and help validate the years-long strategy to revive the location.

Last week’s announcement that pharmaceutical giant Eli Lilly and Co. will invest $1 billion in a Concord manufacturing campus could be the county’s most transformational economic development project yet. The 589-job project will bring 800,000 square feet of facilities and high salaries. But it can also be a building block in an industry where the Charlotte region is not yet a premier destination for manufacturing.

PREVIOUS COVERAGE: Pharmaceutical giant Eli Lilly to invest $1B at former Philip Morris site in Concord

Local leaders are confident Eli Lilly’s investment will change those fortunes.

“I think this makes the Charlotte region a player in the life sciences,” said Steve Morris, chairman of the Cabarrus County Board of Commissioners. “As significant as this announcement is today, the things that will follow in the coming months and years are going to be equally exciting and impactful to the entire region.”

Keep reading here. 

[WATCH BELOW: Group hopes to recruit high school students to join manufacturing jobs]

Group hopes to recruit high school students to join manufacturing jobs

©2022 Cox Media Group

Most Read