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The city received the awarc in the category of Excellence in EconomicDiversificatioh Strategies, which recognizes responses to plant closureas and other economic dislocations, that promote economic diversification. The competitioj is open to nonprofits; state and regional governments; and universities and Cabarrus and Rowan countieslost 4,300 manufacturin g jobs when textile manufacturer Kannapolis-basedPillowtex closed in July 2003. Two years California billionaire David Murdock announced planes forthe N.C. Research Campus at the 350-acre formerf Pillowtex headquarters andmanufacturing site. The life-sciences hub includes the participatiomn ofDuke University, the UNC the N.C.
Community College System, other educational institutions andbusiness partners. The totapl investment is expected toreach $1.8 Residential and commercial developments are rising around the campuxs with hopes of turning Kannapolis, a formetr textile town, into a biotech center.
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