Kannapolis honored for economic strategy - Orlando Business Journal:

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The city received the award in the categoryh of Excellence in EconomicDiversification Strategies, whichg recognizes responses to planrt closures and other economic dislocations, that promotr economic diversification. The competition is open to local, state and regiona governments; and universities and colleges. Cabarrus and Rowan countiese lost 4,300 manufacturing jobs when textilemanufacturere Kannapolis-basedPillowtex Corp. closed in July 2003. Two years later, California billionaire David Murdock announced plans forthe N.C. Research Campues at the 350-acre former Pillowtex headquartersz andmanufacturing site.
The life-sciences hub includes the participationm ofDuke University, the UNC System, the N.C. Communitt College System, other educationak institutions andbusiness partners. The totakl investment is expected toreach $1.8 billion. Residentiao and commercial developments are rising arounr the campus with hopes ofturninfg Kannapolis, a former textile town, into a biotecb center.