Johnson & Johnson is investing more than $55 billion in the United States over the next four years, a 25% jump from its spending during the previous four years. The company says the move will support new manufacturing plants, expanded research efforts, and technology upgrades that will create high-paying jobs and help speed up drug development.
“Today’s announcements accelerate our nearly 140-year legacy as an American innovation engine tackling the world’s toughest healthcare challenges,” said Joaquin Duato, Chairman and CEO of Johnson & Johnson.
The company’s expansion is already underway. Johnson & Johnson broke ground this week on a new 500,000-square-foot biologics plant in Wilson, North Carolina. The site is expected to support 5,000 construction jobs and eventually employ more than 500 workers. It’s projected to bring a $3 billion boost to the state’s economy in its first decade.
The North Carolina facility will produce next-generation medicines for cancer, autoimmune diseases, and neurological conditions. As part of its U.S. investment plan, Johnson & Johnson is planning to build three new manufacturing plants and expand several existing ones. The company also says it will invest heavily in research to develop new treatments in oncology, neuroscience, immunology, cardiovascular disease, and robotic surgery.
Johnson & Johnson already spends more than $100 billion per year in the U.S., and this new investment builds on that.
“Our increased U.S. investment begins with the groundbreaking of a high-tech facility in North Carolina that will not only add U.S.-based jobs but also manufacture cutting-edge medicines to treat patients in America and around the world,” added Duato.
