ZURICH (Reuters) -Novartis will expand its operations in North Carolina and build a manufacturing hub there as part of a planned $23 billion of U.S. infrastructure investment over the next five years, the Swiss pharmaceuticals company said on Wednesday.

The expansion is projected to create 700 new positions at Novartis and more than 3,000 indirect jobs across the supply chain by 2030, the company’s statement said.

The announcement follows a preliminary deal struck by the U.S. and Swiss governments last week to cut U.S. tariffs on Switzerland to 15% from 39%.

Central to the deal is a pledge by Swiss companies such as Novartis to invest $200 billion in the U.S. by the end of 2028.

Novartis said the new hub, expected to open in 2027 or 2028, will comprise two new facilities in Durham, Nor

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