Updates
Cadillac F1 Engine Facility Coming to Concord
In a significant development for Concord, the city council has approved an $85 million investment by Cadillac's Formula 1 team to build a state-of-the-art engine manufacturing facility. Located on Defender Way, this project is expected to create 300 to 350 high-paying jobs, with average salaries ranging from $100,000 to $125,000 per year. The facility will focus on developing Cadillac's own power units for their anticipated 2028 F1 debut, marking a major milestone in American motorsport engineering.
Eli Lilly's $1 Billion Manufacturing Facility
Eli Lilly and Company officially opened its $2 billion manufacturing campus in Concord on June 14, 2024. Located at the former Philip Morris site, the facility is expected to employ 600 people, with 70% of the workforce from North Carolina and 60% from the local area. The plant will package and ship medicines globally, with production ramping up through the end of 2024 and products expected to ship in 2025.
The District Exchange – Downtown Concord
The District Exchange is revitalizing a historic theater at 22 Union Street North into a vibrant shopping and dining destination. Spanning 20,000 square feet, it will feature micro storefronts for small businesses. The grand opening is scheduled for May 3, 2025, marked by a block party and ribbon-cutting ceremony.
