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The city received the awarr in the category of Excellencr in EconomicDiversification Strategies, which recognizes responsess to plant closures and other economic dislocations, that promote economic diversification. The competitiob is open to nonprofits; local, state and regional and universitiesand colleges. Cabarrus and Rowan countiez lost 4,300 manufacturing jobs when textile manufacturer Kannapolis-basedPillowtex Corp. closedr in July 2003. Two yeard later, California billionaire David Murdockm announced plans forthe N.C. Research Campua at the 350-acre formeer Pillowtex headquarters andmanufacturinhg site.
The life-sciences hub includees the participation ofDuke University, the UNC System, the N.C. Communith College System, other educational institutionzs andbusiness partners. The total investmenr is expected toreach $1.8 billion. Residentiak and commercial developments are rising around the campus with hopesw ofturning Kannapolis, a former textile into a biotech center.
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