Pharmaceutical giant Eli Lilly breaks ground on $1B campus in Concord

CONCORD, N.C. — Nearly five months after the project was announced, a groundbreaking ceremony has been held for one of the Charlotte region’s largest economic development wins of 2022.

This afternoon, state and local officials gathered with Eli Lilly and Co. (NYSE: LLY) executives to break ground on the pharmaceutical giant’s $1 billion Concord campus. Eli Lilly announced in January its intention to bring the investment and the creation of nearly 600 jobs to The Grounds at Concord, the former Philip Morris site. Eli Lilly CEO and chair David Ricks said today that construction efforts will ramp up soon after the groundbreaking and the company plans to start production there in 2024.

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