Johnson & Johnson Invests $2 Billion in North Carolina

Johnson & Johnson (J&J) has announced a significant investment exceeding $2 billion to construct a new biologics manufacturing facility in Wilson, North Carolina, aimed at producing therapies for cancer and various neurological and immunity-related diseases. Construction is set to begin in early 2025, and the facility will create approximately 420 full-time jobs, with an average annual salary of $108,823, significantly higher than the local average. The investment is part of J&J's strategy to launch over 70 new therapies by 2030 and ensure a resilient supply chain. North Carolina will provide performance-based incentives totaling up to $30 million to attract this investment, which is expected to bolster the state's economy following a decline in its rural tobacco industry. This initiative aligns with the state's efforts to become a hub for pharmaceutical manufacturing, joining other major companies like Pfizer and Thermo Fisher Scientific. J&J's stock remains positively rated by analysts, reflecting confidence in its growth potential.