Duke and UNC are joining forces as the health staples behind the state’s first free-standing children’s hospital. Researchers say it will also fuel innovation with $120 million in anticipated NIH grant funding.

The future North Carolina Children's Hospital, which will be jointly run by UNC Health and Duke Health, will be built in Apex, the two health systems said on Thursday. Why it matters: The children's hospital is one of the largest developments expected to be built in the state in the coming years,

NC Children's Health will occupy a 230-acre campus in Wake County and is expected to eventually create 8,000 jobs.