Winston-Salem Journal | Billionaire to unveil plan for biotech center at old textile site
Winston-Salem Journal | Billionaire to unveil plan for biotech center at old textile site

Billionaire to unveil plan for biotech center at old textile site


By PAUL NOWELL
AP Business Writer

CHARLOTTE, N.C. - Two years after nearby Kannapolis was the epicenter of the largest mass layoff in North Carolina history, hope may rise from the rubble of a massive demolished plant.

California billionaire David Murdock will come to town Monday to unveil plans for a biotechnology complex on the former site of Pillowtex Corp. Plant 1, which dominated downtown Kannapolis for decades as the employer of thousands. Then came the slowdown of the state's textile industry. And in July 2003, the plant was shuttered as the company shut down and shed 4,800 jobs.
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