Jun 02, 2022

German-based Life Sciences Company Evonik Invests $220M in Tippecanoe County Expansion

Evonik, a global provider of drug delivery technologies, announced plans to expand its production facility in Lafayette, creating more than 80 highly skilled, high-wage jobs by the end of 2025. With the expansion, the complex will be one of the largest sites for active pharmaceutical ingredients and Evonik's second-largest site in the U.S. employing 650 people.

"Indiana is increasingly a leader in medical innovation due to the clustering of quality companies like Evonik that bring high wages and future-focused industry to our state," said Indiana Secretary of Commerce Brad Chambers."

Headquartered in Essen, Germany, Evonik plans to invest $220 million to expand its production facility at 1650 Lilly Road in Lafayette. The expansion will allow the rapid and flexible production of a variety of lipids that may serve future applications of mRNA technology in infectious disease control, cancer immunotherapy, protein replacement and gene therapy. The additional facility space also ensures a rapid and extensive supply of lipids to fuel the continuing battle against COVID-19.

Pending approval by the Indiana Economic Development Corporation (IEDC) board of directors, the IEDC will commit an investment in Evonik Corporation of up to $2.1 million in the form of incentive-based tax credits and up to $250,000 in conditional training grants. The IEDC will also offer up to $3 million from the Hoosier Business Investment (HBI) tax credit program based on the company’s planned capital investment in Indiana. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired and trained. The Greater Lafayette Commerce and Duke Energy offered additional incentives.