Johnson & Johnson announces plans for $55 billion in US investments
New England Council member, Johnson & Johnson recently announced plans for US investments totaling $55 billion over the next four years. This is a 25% increase compared with the last four years, and the estimated impact on the U.S. economy will be more than $100 billion per year.
The investments will fund four new manufacturing plants, along with expansions to several existing facilities. A portion of the funding will also support research and development infrastructure and technology. The pharmaceutical giant has already broken ground on the first new plant—a high-tech facility in North Carolina—while the locations of the remaining three have yet to be announced.
“Today’s announcements accelerate our nearly 140-year legacy as an American innovation engine tackling the world’s toughest healthcare challenges. Our increased U.S. investment begins with the ground-breaking of a high-tech facility in North Carolina that will not only add U.S.-based jobs but manufacture cutting edge medicines to treat patients in America and around the world,” said Joaquin Duato, Chairman and Chief Executive Officer of the company.
The New England Council congratulates Johnson & Johnson on these new plants, which will boost U.S.-based manufacturing.
Read more in the press release from Johnson & Johnson, in AP News and the Hartford Courant.