By Chris Wack

 

Eli Lilly & Co. said Friday it plans to invest more than $1 billion to create a new manufacturing site, along with nearly 600 new jobs in Concord, N.C.

The pharmaceutical company said the new facility will use the latest technology to manufacture parenteral, or injectable, products and devices and increase the company's manufacturing capacity.

"Lilly is entering an exciting period of growth and we are committed to delivering innovative medicines to patients around the world," said Edgardo Hernandez, senior vice president and president of Lilly manufacturing operations.

Lilly said it selected Concord because of the manufacturing technology experience of the local labor force; its proximity to universities with strong science, technology, engineering and math programs; and its access to major transportation infrastructure.

The company said it plans to create nearly 600 new jobs for highly skilled workers such as scientists, engineers and manufacturing personnel. About 500 additional positions will be required while the facility is under construction.

 

Write to Chris Wack at chris.wack@wsj.com

 

(END) Dow Jones Newswires

January 28, 2022 12:46 ET (17:46 GMT)

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