Johnson & Johnson to invest $55 billion in American manufacturing over four years

As part of a new $55 billion investment nationally, pharmaceutical giant Johnson & Johnson is investing in a manufacturing facility in North Carolina.

The billions of dollars will also fund three other new advanced manufacturing facilities and expand existing ones across the nation over the next four years, which the company promises “will create high-paying, high-technology jobs.”

“Today’s announcements accelerate our nearly 140-year legacy as an American innovation engine tackling the world’s toughest healthcare challenges,” Johnson & Johnson CEO Joaquin Duato said Friday. “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.”

The move marks a 25% increase in the company’s U.S. investments compared to the previous four years.

The White House called it “the latest massive victory in President Donald J. Trump’s unrelenting pursuit of American manufacturing dominance,” pointing to Johnson & Johnson’s acknowledgment that its investment “result[s] from the passage of the 2017 Tax Cuts and Jobs Act.”

Although Johnson & Johnson predicts the North Carolina facility will create billions of dollars in impact across the state in the first 10 years of operations, though predictions of this kind can inflate impact and are hard to nail down.

As The Center Square previously reported, the company indicated it would move to North Carolina last fall and received over $80 million in government incentives for the plant, one of several biomedical facilities to recently move to the state.