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DURHAM, N.C. (WNCN) — Gov. Roy Cooper announced on Tuesday that a pharmaceutical company will invest nearly $500 million as it brings hundreds of jobs to Durham.

Eli Lilly and Company, which is based in Indiana, has announced a massive investment in the area.

North Carolina’s recruitment effort has been known as “Project Blue Jay.”

The company plans to invest $474 million in Durham and create 462 jobs in the process. The minimum salary for those jobs will be just over $72,000 per year.

The state’s Economic Investment Committee approved an incentive package for the company on Tuesday with nearly $10 million in incentives from North Carolina and $2.5 million from Durham County.

Indiana and Pennsylvania were two other states trying to land this deal.

“Life science companies like Lilly continue to choose North Carolina,” said Cooper. “Our exceptional workforce draws global companies as we continue to grow North Carolina into a worldwide hub for the biotechnology industry.”

According to Cooper, Lilly will open a “state-of-the-art” manufacturing facility that will produce injectable products and delivery devices.

“This next-generation manufacturing facility will allow us to expand our capacity to make the Lilly medicines that are helping people with serious illnesses today, and help us prepare for new medicines coming from our robust pipeline in the future,” said David A. Ricks, chairman and chief executive officer of Lilly. “…We’re excited to be bringing more of these high-skill, high-wage advanced manufacturing jobs to North Carolina.”

“This decision will only grow the reputation of Durham and the Research Triangle Park as a leading destination for life science companies,” said N.C. Rep. Zack Hawkins. “Everyone in our area stands ready to help Lilly succeed in North Carolina.”