Johnson & Johnson plans $55 billion in US investments over the next four years
Business
Johnson & Johnson plans $55 billion in US investments over the next four years
NEW YORK (AP) - Johnson & Johnson says it will invest more than $55 billion within the United States over the next four years, including four new manufacturing plants.
A number of companies have highlighted investments in the U.S. 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 U.S. Both Lilly and J&J cited tax cut legislation passed in 2017 as factors in their U.S. investments.
Johnson & Johnson said Friday that it is a 25% increase in investment compared with the prior four years and estimates the U.S. economic impact will be more than $100 billion a year.
“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,” Chairman and CEO 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, Johnson & Johnson said that it will expand several existing sites. The company is also planning to make investments in research and development infrastructure and technology.
In February Apple announced that it plans to invest more than $500 billion in the U.S. over the next four years, including plans to hire 20,000 people and build a new server factory in Texas.
Apple outlined several concrete moves in its announcement, the most significant of which is the construction of a new factory in Houston — slated to open in 2026 — that will produce servers to power Apple Intelligence, its suite of AI features.
