AP – Johnson & Johnson (J&J) said it will invest more than USD55 billion within the United States (US) over the next four years, including four new manufacturing plants.
A number of companies have highlighted investments in the US in recent months, a focus of Trump administration. J&J rival Eli Lilly and Co announced in late February that it planned to build four new factories in the US Both Lilly and J&J cited tax cut legislation passed in 2017 as factors in their US investments.
J&J said that it is a 25-per-cent increase in investment compared with the prior four years and estimates the US economic impact will be more than USD100 billion a year.
“Our increased US investment begins with the ground-breaking of a high-tech facility in North Carolina that will not only add US-based jobs but manufacture cutting edge medicines to treat patients in America and around the world,” Chairman and Chief Executive Officer Joaquin Duato said in a statement.
The North Carolina plant is in Wilson, just east of Raleigh. The locations of the other three facilities were not disclosed. Aside from building four new plants, J&J said that it will expand several existing sites. The company is also planning to make investments in research and development infrastructure and technology.
J&J’s efforts are among several companies pledging to enhance their manufacturing in the US. Earlier this month chip giant Taiwan Semiconductor Manufacturing Co said that it plans to invest USD100 billion in the US, on top of USD65 billion in investments the company had previously announced.
