The latest development in the US onshoring trend—spurred by President Donald Trump—is Johnson & Johnson’s announcement Friday morning of a massive $55 billion investment plan over the next four years to build manufacturing facilities and research infrastructure in the US.
J&J said the $55 billion in research, development, and technology investments represents a 25% increase compared to the previous four years and builds on its elevated US investment trends following Trump’s 2017 Tax Cuts and Jobs Act.
“Today’s announcements accelerate our nearly 140-year legacy as an American innovation engine tackling the world’s toughest healthcare challenges,” Joaquin Duato, Chairman and CEO of J&J, wrote in a press release.
Duato said, “Our increased U.S. investment begins with the groundbreaking of a high-tech facility in North Carolina that will not only add U.S.-based jobs but also manufacture cutting-edge medicines to treat patients in America and around the world.”
In addition to the 500,000 square foot, state-of-the-art biologics manufacturing facility in Wilson, North Carolina, which construction is already underway, J&J outlined its investment plans over Trump’s second term:
- Three new advanced manufacturing facilities and the expansion of several existing sites across the Company’s Innovative Medicine and MedTech businesses that will create high-paying, high-technology jobs. The Company will share further information on these sites once available.
- Significant investments in extensive R&D infrastructure aimed at developing lifesaving and life-changing treatments in areas such as oncology, neuroscience, immunology, cardiovascular disease, and robotic surgery.
- Increased technology investments to help make drug discovery and development faster, support workforce training and enhance our business operations.
- With its increased investment over the next four years, the Company’s US economic impact will build upon its already estimated more than $100 billion per year. […]
— Read More: www.zerohedge.com
