$2.1B Investment in Two New Manufacturing Sites

$2.1B Investment in Two New Manufacturing Sites

Governor Eric J. Holcomb and Secretary of Commerce Brad Chambers joined Eli Lilly and Company (NYSE: LLY) CEO and Chair Dave Ricks at the Statehouse to announce the company’s plans to invest $2.1 billion to further expand operations in Indiana. The investment will support two new manufacturing sites, and the creation of up to 500 new jobs in central Indiana.

“Lilly has been an anchor in Indiana’s economy for generations, and this announcement means they will continue to be here for generations,” said Gov. Holcomb. “I am incredibly proud Lilly continues to make exciting investments in Indiana that will better the lives and opportunities of Hoosiers for decades to come. And in turn, the very research and pharmaceutical manufacturing spearheaded here in our state will improve lives worldwide.”

These planned facilities will increase Lilly’s manufacturing capacity for active ingredients and new therapeutic modalities, like genetic medicines, representing the company’s dedication to expanding its portfolio of potentially life-changing treatments for patients around the world. In addition to the full-time jobs Lilly plans to create, the company estimates up to 1,500 construction jobs will be required while the facilities are being built.

“For nearly 150 years, Lilly’s operations in Indiana and our continued commitments in the state have enabled us to develop and deliver innovative and life changing medicines for patients,” said Ricks. “This investment furthers our commitment to Indiana while also fulfilling our purpose of making life better for millions of people.”

Lilly employs more than 36,000 people worldwide, including more than 10,400 in Indiana. Once Lilly finalizes its location plans and begins construction, the company will hire various roles to support the operations of the two new sites.

“Today’s very significant investment by Lilly in Indiana is an endorsement of today’s Indiana but also consistent with our vision for Indiana’s vibrant economic future,” said Sec. Chambers. “Lilly’s interest in the LEAP Lebanon Innovation District, if approved, validates our view that well located infrastructure is important to our future growth and innovation.”

Pending approvals of local zoning and annexation, Lilly plans to build its new operations within the new LEAP (Limitless Exploration / Advanced Pace) mega-site, the recently reported innovation and research district in Boone County. The IEDC has identified Boone County as a strategic location for future growth and is exploring land purchase options for a large-scale research and innovation park. The IEDC is securing land in Boone County to better position the state of Indiana to compete globally for high-wage careers in high-tech industries. The state has identified Boone County as strategic for development and growth due to its position between Indianapolis and Purdue University in West Lafayette, as well as its proximity to I-65.

While the state is fielding interest from various businesses, upon receiving required local approvals, Lilly could be the first company to establish operations within LEAP Lebanon. Approvals for Lilly’s annexation and zoning will be considered this summer.

The Indiana Economic Development Corporation is working with Lilly to finalize an investment offer in the form of a performance-based incentive package.

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