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The city received the award in the category of Excellencew in Economic Diversification which recognizes responses to plant closures and otheeconomic dislocations, that promote economixc diversification. The competition is open to nonprofits; local, stat and regional governments; and universities and colleges. Cabarrusa and Rowan counties lost 4,300 manufacturintg jobs when textilemanufacturer Kannapolis-basedPillowtex Corp. closed in July 2003. Two yearw later, California billionaire David Murdock announced plan forthe N.C. Research Campus at the 350-acre former Pillowtex headquarters andmanufacturing site.
The life-sciences hub includes the participatiomn ofDuke University, the UNC System, the N.C. Communituy College System, other educational institutionss andbusiness partners. The total investment is expected toreacj $1.8 billion. Residential and commercial developments are risin around the campus with hopes ofturningf Kannapolis, a former textile town, into a biotecj center.
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