Governor Eric J. Holcomb joined executives of Eli Lilly and Company (NYSE: LLY), community leaders and Secretary of Commerce Brad Chambers today to break ground on the company’s new manufacturing facilities in Boone County. Lilly, which
announced plans to locate at the LEAP (Limitless Exploration/Advanced Pace) Innovation and Research District in May 2022, announced plans today to increase its commitment, investing an additional $1.6
billion and creating another 200 new jobs at its two new manufacturing sites. This increases the company’s overall plans in Lebanon to more than $3.7 billion and nearly 700 new jobs, representing the largest manufacturing investment at a single
location in the company’s history. “Lilly has played a critical role in shaping Indiana’s economy over the past 145-plus years, and today’s groundbreaking makes it clear – the company will be at the forefront of
driving Hoosier innovation and job creation forward for generations to come,” said Gov. Holcomb. “As a state, we are proud to partner with Lilly in accelerating Indiana’s talent pipeline and career opportunities while leveraging
the state’s manufacturing excellence to develop life-changing and life-saving solutions for people across the world.”
The new facilities will expand the company’s manufacturing network for active pharmaceutical ingredients, support increased demand for existing Lilly products and play a key role in bringing the next generation of therapeutic modalities,
including genetic medicines, to patients globally. Lilly has introduced 19 new medicines, including Jaypirca (recently approved by the U.S. Food and Drug Administration for mantle cell lymphoma), since 2014 and plans to introduce several additional
potential medicines in 2023.
“Through these new facilities, Hoosiers will make life-changing
medicines that patients around the world need to address serious health
challenges, including diabetes and cancer,” said Lilly’s chair and CEO Dave
Ricks. “We're investing at record levels in our home state to help our communities
and economy thrive and enhance educational opportunities for more students. We
look forward to doing our part to make Indiana an even better place to work and
live, while fostering cutting-edge innovation in our state.”
Once construction is complete, Lilly will begin hiring for
highly skilled positions, such as engineers, operating personnel and lab
technicians, who will utilize advanced technology to create innovative
medicines for patients. The company today also announced a new $15 million Lilly
Scholars program with the Ivy Tech Foundation to create a scholarship and an
experiential learning program at Ivy Tech Community College for high school and
college students with diverse backgrounds who intend to pursue careers in
pharmaceutical manufacturing.
“It’s an incredibly exciting milestone for the state as we break
ground on the first LEAP investment,” said Sec. Chambers. “LEAP is envisioned
to be a best-in-class district for research, manufacturing, for future focused
and forward-looking industries. It’s envisioned to be a highly sustainable
community that respects its agricultural heritage and a vibrant place where
people can live, work, play, learn and prosper. I couldn’t be more excited to
support Lilly as our anchor investor. The future is bright at Lilly LEAP
Lebanon.”
Based on the company’s plans to create 700 new jobs, the IEDC
committed an investment in Lilly of up to $4.5 million in the form of
incentive-based training grants. The IEDC also committed an investment of up to
$17.085 million in redevelopment tax credits based on the company’s plans to
invest $3.7 billion. The IEDC also offered up to $271.5 million of Innovation
Development District tax rebates with the flexibility for the project to grow
to $4.5 billion in capital investment.
“It’s a historic day for the city of Lebanon and Boone County as
we celebrate a groundbreaking milestone for both Lilly and the LEAP Research
and Innovation District,” said Mayor Gentry. “I am grateful for the state’s
partnership to develop this future-focused, world-class project and Lilly’s
decision to invest in Lebanon. Lilly and LEAP will create life-changing career
opportunities for Lebanon and Boone County residents for generations to come.”
Lilly’s investment will anchor Indiana’s LEAP Lebanon, a
mega-site identified by the Indiana Economic Development Corporation (IEDC) as
a strategic location for development and growth because of its proximity to
research centers in Indianapolis and Purdue University in West Lafayette as
well as the availability of skilled talent. The innovation district boasts
thousands of acres along Indiana’s I-65 Innovation Corridor, offering diverse
settings for advanced manufacturing, mixed-use and corporate campus
investments, and is expected to attract leading businesses and innovators in
high-tech, fast-growing sectors that will be critical to the economy of the
future.