Novartis Plant to Bring Jobs, Money to Triangle
Posted August 23, 2007 5:46 a.m. EDT
Updated August 24, 2007 6:51 a.m. EDT
Holly Springs, N.C. — Novartis broke ground Thursday on a new site in Holly Springs. The flu-vaccine maker is expected to create 350 jobs and pump millions of dollars into the Triangle economy.
Holly Springs put up $8 million in incentives to land the business deal.
"Incentives are an easy thing to jump on right now, but bottom line is it's an investment, and I think that's how all towns have to look at these things," said Town Manager Carl Deal.
Town leaders said that investment could pay off in just three years. An economic study released earlier in August shows Novartis will generate more than $150 million in taxes and local spending.
Some restaurants in Holly Springs cannot wait for the new facility located at Holly Springs Business Park near the intersection of Green Oaks Parkway and Irving Parkway.. They said they hardly ever get a "lunchtime crowd," but with Novartis moving in, they may start to see a rush.
"The more people that we get working here in the daytime, instead of just living here because they do travel a way to go to work, helps me out anyway. I could get a raise," said restaurant manager Travis Bridger.