Johnson & Johnson announced on Friday that it will invest $55 billion in U.S. manufacturing, research and development, and technology over the next four years.
The planned spending represents a 25% increase compared with the company’s investments in the previous four years.
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Part of the investment includes the construction of a $2 billion-plus, 500,000-square-foot biologics manufacturing facility in Wilson, North Carolina. It will produce medicines for cancer, immune-mediated diseases and neurological conditions, the company said in a news release.
The facility to expected to boost the state’s economy by $3 billion in the first decade of operations. It will provide about 5,000 jobs during the construction phase and once complete, create more than 500 job positions.
Johnson & Johnson also plans to build three other manufacturing facilities and expand several of its existing sites within its innovative medicine and medtech businesses.
The company said it will release more information on the new construction once it's available.
The focus of research and development will be on oncology, neuroscience, immunology, cardiovascular disease and robotic surgery. Its technology initiatives are expected to accelerate drug discovery and development, support workforce training and enhance business operations.
Johnson & Johnson's economic impact in the U.S. is estimated at $100 billion per year, according to an external economic analysis.
