Pharmaceutical Manufacturer, Hospira, Invests $85 Million To Expand Its Rocky Mount, North Carolina facility
Hospira's products are used by hospitals, outpatient clinics and other healthcare sites, such as clinics and home-health facilities. The company currently has about 2,400 employees at its Rocky Mount facility.
The firm plans to invest $85 million over the next three years in new capital investments for the construction, improvement, and equipping of its production complex. Hospira said its investment could grow to $270 million over the next ten years.
"Hospira is proud to be able to bring new jobs to the Rocky Mount community with the support of the state of North Carolina and other community partners," said Marty Nealey, vice president of Hospira's Rocky Mount Operations. "Our new facility expansion and technology investments underscore the importance of the Rocky Mount facility in supplying life-saving, lower-cost medicines for our patients, customers and health care providers in the global marketplace. We are very thankful for the professional skilled Hospira employees in Eastern North Carolina who are making a difference in patient care."
The project was made possible, in part, by a $645,000 grant from the One North Carolina Fund. The state grant is based on the company investing $85 million over the first three years of the project.
Gov. Bev Perdue said, "Hospira knows our highly-skilled workforce and strong business climate have helped the company thrive in North Carolina. It's always great news when existing companies choose to invest new resources in our state. This announcement gives another shot in the arm to the North Carolina economy." Salaries will vary by job function, with new positions including technical, supervisory, production and support roles. The average annual wage for the new jobs will be $51,780. The Nash County average annual wage is $34,112.
The economic development agreement from Nash County and the City of Rocky Mount has a value of up to $12.5 million over the next ten years. As an incentive, One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.
2019 Leading Metro Locations: Pacific and South-Atlantic Metros Dominate the List
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row
A Heightened Focus on Reshoring
Site Selection 2020: The Importance of “Regional Depth” with Global Reach
COVID-19 and Site Selection in the Near and Long Term
34th Annual Corporate Survey & the 16th Annual Consultants Survey