Phillip Morris, the world’s leading tobacco company, has announced plans to invest $600 million in a new manufacturing facility in Aurora. This investment will be made through one of its U.S. affiliates over the next two years and is expected to create 500 jobs for the state.
The plant is set to begin operations by 2025 and will have a significant economic impact with nearly 5,000 jobs created during construction. This move comes as part of Phillip Morris’ efforts to offer alternatives to traditional cigarettes due to increasing health awareness and stricter regulations.
In 2022, Phillip Morris entered the U.S. market after acquiring Swedish Match (the parent company of Zyn) for $16 billion. The demand for Zyn has been strong since then, with shipments increasing by almost 80% in the first quarter compared to last year.
This latest development highlights Phillip Morris’ commitment towards providing healthier options for consumers while also boosting job growth and economic activity in Aurora.
