Pharmaceutical giant Eli Lilly to invest $1 billion in new Charlotte-area plant

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Cabarrus EDC

Eli Lilly, a pharmaceutical giant, will build a major manufacturing facility in Concord, creating nearly 600 jobs and investing close to $1 billion, North Carolina Secretary of Commerce Machelle Sanders announced Friday.

It follows a similar announcement from about two years ago when the company, based in Indiana, said it would build a plant in Research Triangle Park.

“Together with this new plant, Eli Lilly will increase a number of life-saving medicines made in North Carolina, improving the lives and health of so many people around the world,” Sanders said.

The site will manufacture parenteral — or injectable — products and devices, according to a news release from Gov. Roy Cooper’s office. Eli Lilly has played a role in developing insulin, which treats against diabetes.

The average salary will be $70,555, Cooper’s office said, which is above the current average wage in Cabarrus County of $43,687. The 589 jobs will range from technicians, quality professionals and production operators, among others, Sanders said.

The roughly 800,000-square-foot-plant will be located at The Grounds at Concord, the former Philip Morris cigarette manufacturing site just down the road from Charlotte Motor Speedway. It will be composed of five buildings, including space for logistics and packaging, a quality control lab and central utilities plant, according to Cabarrus Economic Development.

“For the first time, life-saving, life-sustaining medicine can be manufactured right here,” said Concord Mayor Bill Dusch.

Other big investments

Eli Lilly’s announcement follows two other big investments nearby.

A pair of global beverage companies, Red Bull and Rauch, plan to create more than 400 jobs and invest $740 million in Concord by 2027 to create a new beverage manufacturing site, the Observer reported in July. The location is also at The Grounds.

Then, a third global company, Ball Corp., an aluminum beverage packaging company, said it would join them. Ball said its $383.8 million investment would create 220 jobs.

Eli Lilly also will join Carvana and Golden Home on The Grounds site. More than 600 acres still remains available for development, according to Cabarrus Economic Development.

NC grant award

Eli Lilly received a state Jobs Development Investment Grant award of over $12.1 million over 12 years, Cooper’s office said.

Cabarrus County and Concord will hold meetings Feb. 10 to vote on local incentives. Performance-based property tax grants are being proposed on roughly $920 million of Eli Lilly’s overall investment. The grants only apply if operations meet performance goals, Cabarrus Economic Development said.

New company joins Charlotte-area beverage hub, will invest $383.8M and add 220 jobs

A pair of beverage companies to invest $740 million, bring 400 jobs to Charlotte area