Hello, is it possible to create a variable within a string of text in a cell ?

For example,

Variable = YEAR
YEAR = 2006
Data in cell = "Now, we're in YEAR."

will then make Excel recognize the text, YEAR, as a variable and will appropriately insert the value there, as :

"Now, we're in 2006."

Is this possible to do in Excel?

Thanks,

Devin