Eli Lilly to invest $1B to build North Carolina facility
February 10, 2022Global health care and biopharmaceutical company Eli Lilly and Company will invest $1 billion in North Carolina to build a new pharmaceutical manufacturing facility in Concord, Gov. Roy Cooper’s office said.
The investment is expected to create 598 jobs in Cabarrus County. The facility will manufacture injectable products and devices and increase Eli Lilly and Company’s manufacturing capacity.
“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,” said Edgardo Hernandez, senior vice president and president of Lilly Manufacturing Operations. “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.”
Eli Lilly will receive a Job Development Investment Grant (JDIG) over a 12-year term. Based on job creation and tax revenue targets, the JDIG agreement authorizes reimbursement to Eli Lilly up to $12.1 million. The project is estimated to grow the state’s economy by more than $5.7 billion.
“Lilly’s choice brings more good jobs to North Carolina from one of our most important industries,” Cooper said. “North Carolina has become a premier hub for the world, thanks to our exceptional workforce and commitment to education.”
Sherwin-Williams: The global paint manufacturer will invest $324 million to expand its facilities in Statesville. The investment is expected to create 183 jobs in Iredell County. Sherwin-Williams plans to expand manufacturing capacity and establish a larger distribution facility.
“The planned investment at our Statesville facility supports meeting the expanding needs of our customers in the region,” said John Morikis, Sherwin-Williams chair, president and CEO. “We want to thank all of the public entities involved in working with us to achieve our combined goals that drive economic development, add good-paying jobs and support the surrounding community.”
Sherwin-Williams will receive a JDIG over a 12-year term. Based on job creation and tax revenue targets, the JDIG agreement authorizes reimbursement to Sherwin-Williams for up to $2.7 million. The governor’s office estimates the project will grow the state’s economy by $1.1 billion.
LT Apparel Group: The childrenswear apparel company will invest $57 million to expand in Greensboro. The investment is expected to create at least 116 jobs. LT Apparel will receive a performance-based One North Carolina Fund grant of $200,000 to aid the expansion if it meets job creation and capital investment targets. All One NC Fund grants require a matching grant from local governments.
Science 37: The American clinical research company will invest nearly $1.5 million to relocate its headquarters from California to Morrisville. The investment is expected to create 250 jobs over five years in Wake County. Science 37 will receive a JDIG over a 12-year term. Based on job creation and tax revenue targets, the JDIG agreement authorizes reimbursement to Science 37 up to $3.3 million. The governor’s office estimated the project will grow the state’s economy by $783 million.
Mt. Olive Pickle Company: The pickles, peppers and relishes producer will invest $35 million to expand in Goldsboro. The investment is expected to create 167 jobs in Wayne County. Mt. Olive will receive a performance-based One NC Fund grant of $600,000 to aid the expansion if it meets job creation and investment targets. All One NC Fund grants require a matching grant from local governments.
BrassCraft Manufacturing Company: The rough plumbing products provider will invest $13 million to expand in Thomasville. The investment is expected to create nearly 100 jobs in Davidson County. BrassCraft will receive a performance-based One NC Fund grant of $200,000 to aid the expansion if it meets job creation and investment targets. All One NC Fund grants require a matching grant from local governments.
West Pharmaceutical: The global pharmaceutical packaging manufacturer will invest more than $70 million to expand in Kinston. The investment is expected to create 70 jobs in Lenoir County. West Pharmaceutical will receive a performance-based One NC Fund grant of $300,000 to aid the expansion if it meets job creation and investment targets. All One NC Fund grants require a matching grant from local governments.
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