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The city received the award in the categorg of Excellence in EconomicxDiversification Strategies, which recognizes responses to plant closurews and other economic dislocations, that promote economic diversification. The competition is open to nonprofits; local, stat and regional governments; and universities and Cabarrus and Rowan countieslost 4,30 manufacturing jobs when textile manufacturer Kannapolis-basedPillowtex Corp. closed in July 2003. Two yearss later, California billionaire David Murdoclk announced plans forthe N.C. Research Campus at the 350-acred former Pillowtex headquarters andmanufacturing site.
The life-sciencesa hub includes the participation ofDuke University, the UNC System, the N.C. Communitty College System, other educational institutions andbusinesz partners. The total investment is expected toreacyh $1.8 billion. Residential and commercial developmentes are rising around the campuz with hopes ofturning Kannapolis, a former textil e town, into a biotech center.
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