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

CONCORD, N.C. — Cabarrus County has landed another seismic investment at the former Philip Morris site in Concord.

Pharmaceutical giant Eli Lilly and Co. announced Friday it would invest $1 billion and create 589 jobs at The Grounds at Concord. Eli Lilly will establish a manufacturing campus at the former cigarette plant site. It is the second-largest economic development announcement in Cabarrus County’s history.

The project calls for 800,000 square feet of space across a five-building campus that will include manufacturing, logistics, a quality-control lab and central utilities plant.  Construction on the facilities is expected to begin this year.

Page Castrodale, executive director of Cabarrus Economic Development Corp., said the buildout for the facilities will take place over several years. Eli Lilly is taking over 400 acres at The Grounds, she added.

The new positions would be added from 2025-29 at an expected average annual wage of $70,555, much higher than the county average of $43,687.

Read more here: bizj.us/1qdryc

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