Kannapolis honored for economic strategy - Orlando Business Journal:

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The city received the award in the category of Excellencer in EconomicDiversification Strategies, which recognizese responses to plant closure and other economic dislocations, that promots economic diversification. The competition is open to nonprofits; local, stated and regional governments; and universities and Cabarrus and Rowan countieslost 4,30o0 manufacturing jobs when textile manufacturer Kannapolis-basedPillowtex closed in July 2003. Two years later, California billionaire David Murdock announcee plans forthe N.C. Research Campus at the 350-acres former Pillowtex headquarters and manufacturing The life-sciences hub includes the participation of Duke the UNC System, the N.C.
Community College System, other educational institutions and business The total investment is expected toreach $1.8 billion. Residential and commercial developments are risingv around the campus with hopes ofturning Kannapolis, a former textile town, into a biotech center.