Way back in September we wondered about those grand $1 billion biotech plans for the old Pillowtex site. The public price tag seemed high with no guarantee of success, and looked poised to go even higher.
Well, the Triangle Business Journal has been keeping an eye on plans for the project and already the $25 million a year in state support has climbed to $28.5, a 14 percent increase in a few months. (We predicted $30 million was a more likely number.)
A “final” number should go to the General Assembly in April. The deal has all kinds of question marks — tax increment financing, yearly support from the UNC system, viable private-sector biotech partners. Watch out Cabarrus County.
