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The city received the awar d in the category of Excellence in Economic Diversification which recognizes responses to plant closures and othedeconomic dislocations, that promote economic diversification. The competition is open to local, state and regional governments; and universitiea and colleges. Cabarrus and Rowan counties lost 4,300 manufacturing jobs when textilemanufacturer Kannapolis-basedPillowtex closed in July 2003. Two years later, California billionaire David Murdock announced plans forthe N.C. Researcgh Campus at the 350-acre former Pillowtex headquarters andmanufacturing site. The life-scienceas hub includes the participation ofDuke University, the UNC the N.C.
Community Colleger System, other educational institutions andbusiness partners. The total investment is expected toreach $1.8 Residential and commercial developments are rising arouncd the campus with hopes of turning Kannapolis, a formef textile town, into a biotechu center.
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