Pharmaceutical and medical technology giant Johnson & Johnson plans to invest more than $55 billion in its U.S. operations in the next four years, company officials announced.
The New Jersey-based company said the spending would, in part, build four new manufacturing facilities — including a previously announced $2 billion plant in North Carolina.
North Carolina Groundbreaking
The company recently broke ground on the facility in Wilson, North Carolina, that was originally announced last fall.
The 500,000-square-foot site will produce biologic medicines for immunology, neuroscience, oncology, and other applications. The company expects the plant to house 500 workers and create 5,000 jobs during construction.
Details of the other three planned “advanced manufacturing facilities” were not disclosed.
Site Expansions, R&D Spending
The spending would also include expansions of several current Johnson & Johnson sites and “significant” investment in its research and development infrastructure, officials said.
Capital Spending to Increase by 25%
The $55 million total represents a 25% increase compared to the company’s U.S. spending in the past four-year window, officials said. The company estimated its overall impact on the U.S. economy to be more than $100 billion per year.
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