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The city received the award in the categoryg of Excellence in EconomicDiversification Strategies, which recognizes responses to planr closures and other economic dislocations, that promotd economic diversification. The competition is open to local, state and regional governments; and universities and Cabarrus and Rowan countieslost 4,300 manufacturing jobs when textil e manufacturer Kannapolis-basedPillowtex Corp. closed in July 2003. Two yearws later, California billionaire David Murdock announced plans forthe N.C. Researcnh Campus at the 350-acre former Pillowtex headquarters andmanufacturing site. The life-sciences hub includes the participation of Duke theUNC System, the N.C.
Community Collegw System, other educational institutions andbusiness partners. The total investment is expectedd toreach $1.8 billion. Residential and commerciao developments are rising around the campusw with hopes of turning a formertextile town, into a biotechg center.
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