American health care company Johnson & Johnson (J&J) plans to invest more than $55 billion in the US economy over the next four years, according to a J&J press release.
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The volume of planned investments is 25% higher than investments over the previous four years.
According to the press release, the company intends to invest in production, research and development (R&D), and technology.
J&J plans to build four new plants in the U.S., including a high-tech facility in North Carolina that will cost more than $2 billion and broke ground Friday. The project will create more than 500 jobs in the state and 5,000 jobs during construction.
The company also plans to expand a number of its existing factories. It also plans to invest heavily in R&D infrastructure to develop treatments in areas such as oncology, neurology, immunology, cardiovascular disease, and robotic surgery.
J&J shares are up 0.3% in Friday trading, up 5.4% over the past 12 months.
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