Staff Reports
Eli Lilly and Company made a big investment announcement at the Indiana Global Economic Summit, saying they plan to invest $5.3 billion into a major tech park. This brings their total investment in the LEAP Research and Innovation District in Lebanon to a whopping $9 billion, creating 200 new jobs. Their expansion of the planned campus, located between Indianapolis and Purdue University, will result in a total of 900 positions.
Eli Lilly investment in Lebanon up to $9B https://t.co/PoQgtiMaU3
— Washington Examiner (@dcexaminer) May 27, 2024
This isn’t the first time Lilly has announced an expansion at this site. Just over a year ago, they revealed plans for a $2.1 billion facility with 500 jobs. Now, with the latest announcement, they’re adding another $1.6 billion and 200 more positions. The company stated that they will be hiring engineers, scientists, lab technicians, and other high-tech professionals to work on creating active pharmaceutical ingredients for drugs used to treat type 2 diabetes and obesity.
The company’s chairman and CEO, David A. Ricks, expressed pride in the investment, calling it the largest manufacturing investment in the company’s history and the largest investment in synthetic medicine API manufacturing in U.S. history. He also emphasized the impact the new campus will have on producing their latest medicines and supporting pipeline growth with the latest technology and automation.
The state of Indiana is also increasing its investment in the project by providing Lilly with additional incentive-based training grants and tax credits. The state’s decision to offer these incentives to businesses like Lilly has been questioned, but the state has seen record levels of private-sector investments from companies like Lilly, Amazon, and General Motors. Governor Eric Holcomb praised Lilly for choosing to invest in Indiana, highlighting the state’s supportive environment and talented workforce.
Eli Lilly and Company’s investment in the tech park is a massive boost for the Indiana economy, creating new jobs and solidifying the state’s status as an attractive location for business investments.
