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.
More color on the Wilson factory's economic benefit to the American worker and surrounding community:
Expand our capacity to manufacture next-generation medicines for people living with cancer, immune-mediated and neurological diseases in America and around the world.
Support approximately 5,000 jobs during construction and create over 500 positions in North Carolina.
Create a $3 billion impact across the state in the first 10 years of operations.
In addition to J&J, in recent days or weeks:
Apple Goes MAGA: $500 Billion Investment Plan In America, 20,000 New Jobs
TSMC Intends to Expand Its Investment in the United States to $165 Billion to Power the Future of AI
The rise of US onshoring... This is America First.
