Philip Morris International (NYSE: PM) has announced plans to construct a major manufacturing facility in Aurora, Colorado. The 600,000-square-foot plant, representing a $600 million investment, will produce Zyn nicotine pouches.
The facility, to be located near Denver International Airport, is projected to create 500 jobs with an average annual salary of $90,000. Construction is set to begin later this year, with operations expected to start by the end of 2025.
Aurora Mayor Mike Coffman hailed the announcement as “extraordinary” for the city. The project received financial incentives from local and state governments, including $7 million from Aurora and $4.5 million each from the state and Adams County.
PMI focuses on smokeless products in the US. The company views the plant as a strategic move to meet the growing demand for Zyn, which it acquired from Swedish Match, Zyn’s original creator, two years ago.
PMI Americas President and US CEO Stacey Kennedy noted that Colorado is a good home for Zyn because of its emphasis on health and wellness.
“We believe Colorado is like-minded in its commitment to innovation, economic opportunity and public health, and we’re eager to work with the state and its talented workforce as we expand our US manufacturing presence,” the CEO said.
Colorado was also the first state to sell Zyn a decade ago.
“Colorado is the birthplace of Zyn and we’re coming home,” Kennedy told CBS.
While the project has generated excitement, it’s not without controversy. Recently, PMI temporarily halted online sales of Zyn after receiving a subpoena from the District of Columbia. The subpoena requested information on whether Zyn pouches comply with DC’s ban on flavored tobacco products.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
