Eli Lilly and Company (NYSE:LLY) will invest an additional $1.6 billion and create roughly 200 new jobs at two new manufacturing sites within LEAP Innovation Park in Boone County, Indiana.
In all, the company has earmarked $3.7 billion for the facilities and plans to create a total of about 700 new jobs. Examples of job titles covered in the investment include engineers, operating personnel and lab technicians.
The Ivy Tech Foundation
Additionally, Lilly has pledged $15 million over five years to the Ivy Tech Foundation to fund up to 1,000 scholarships for individuals considering careers in pharmaceutical manufacturing.
The Ivy Tech program includes a Lilly Scholars initiative that will provide a new pathway for high school students to receive a college certificate in pharmaceutical manufacturing or medical device quality upon graduation.
The new site in the LEAP Lebanon Innovation District is located in a strategicinnovation hub with more than 9,000 available acres on Indiana’s I-65 Innovation Corridor.
Lilly notes that its investment at the LEAP site marks its largest at a single location in its history.
The company has launched 19 new medicines since 2014. It plans to debut several more in 2023.
Lilly noted that the new facilities will bolster its manufacturing network for active pharmaceutical ingredients and support increased demand for its existing products. The company says the new facilities will also supports its efforts to develop novel therapeutic modalities, including genetic medicines.
Eli Lilly Indiana investment represents a commitment
Lilly CEO David Ricks expressed the company’s commitment to investing and innovating in Indiana.
The company is also investing in other states.
Last year, Lilly said it would invest roughly $700 million in the Lilly Institute for Genetic Medicine at a new site in the Boston Seaport. This expansion will provide additional capacity and opportunities for collaboration, with the potential to create as many as 150 new jobs
It has also announced investments in North Carolina.
The company was founded in 1876 in Indianapolis, where it remains headquartered.
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