Philip Morris International to invest $600 million in Colorado Zyn facility
Zyn parent company Philip Morris International to invest $600 million, create 500 jobs in Colorado. Aurora got a massive economic boost on Tuesday when Philip Morris International announced plans to build a 600,000 square foot manufacturing facility in a far northern part the city.
A shortage in Nicotine pouches
The company says the factory, which will produce the nicotine pouch, Zyn, represents an investment of about $600 million. It says it will break ground the end of the year south of Denver International Airport at East 48th Avenue and Harvest Road, and will begin operations by the end of 2025. So many smokers are turning to the nicotine pouches that there's now a shortage of them. They were originally created by Swedish Match, which Philip Morris International acquired two years ago.
Colorado is the birthplace of Zyn
The company which makes and sells only smokeless products in the U.S. says the new facility is expected to have an economic impact of $550 million a year.Stacey Kennedy, CEO of Philip Morris International, says the company has come full circle. Ten years ago, she says, Colorado became the first state in the country to sell Zyn. "Colorado is the birthplace of Zyn and we're coming home," Kennedy said. Kennedy says Colorado's emphasis on health and wellness makes it perhaps surprisingly the perfect place for the Zyn factory.
New facility will create 500 jobs in Colorado
The Philip Morris CEO won over many skeptics. The company received a $7 million incentive from the city of Aurora and about $4.5 million each from the state and Adams County. Kennedy says incentives aren't what set Colorado apart. "The diverse workforce was really a key element and the highly educated one." Over the last five years, Colorado has lost 680 pharmaceutical jobs, with transferrable skills. Kennedy says the new facility will create 500 jobs in everything from engineering to production to quality control.
Colorado Zyn facility to provide $1 billion economic impact
New Zyn manufacturing facility states the average salary will be about $90,000 a year, and the company will be investing in child care and pre-K for employees. It is also investing $2.5 million in military veteran organizations and transitional housing. In addition to the manufacturing jobs, construction of the facility is expected to create nearly 5,000 jobs and have an economic impact of nearly $1 billion.
