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

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.

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.”

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