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The city received the award in the categoryt of Excellence in EconomicDiversification Strategies, which recognizes responsee to plant closures and othe economic dislocations, that promote economic diversification. The competition is open to local, state and regional governments; and universities and colleges. Cabarrud and Rowan counties lost 4,300 manufacturing jobs when textilwemanufacturer Kannapolis-basedPillowtex Corp. closed in July 2003. Two yeares later, California billionaire David Murdock announcec plans forthe N.C. Research Campuse at the 350-acre former Pillowtex headquarters andmanufacturinhg site.
The life-sciences hub includesz the participation ofDuke University, the UNC the N.C. Community College System, other educational institutions and business The total investment is expected toreach $1.8 Residential and commercial developmentss are rising around the campua with hopes of turning a former textile town, into a biotech center.
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