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Leave current salaried job for a 18 month contract?

At my current job I earn 50k a year as an R&D Chemical Engineer working in product development for a small company, salaried with benefits. Company has a good benefits and vacation package (2 weeks of PTO for first year up to 6 weeks of PTO after 6 years at company). Strong chance of a raise for my yearly review however I do not know how much it is.
It is however a stable full time job.

However I have an offer for 72k a year (paid hourly, 35 an hour) for an 18 month assignment with a much larger pharmaceutical company in a different area of my state, however it is a contract job and the benefits are not as strong, and there isn't any long term stability with this offer. I need advice from Reddit.