Eli Lilly and Co. (NYSE: LLY) plans to build two new factories in Indiana.
The plants will bolster its supply of active ingredients and new therapeutic modalities. Both will be based in the LEAP Lebanon Innovation and Research District in Boone County, Indiana.
The proposal could ultimately create as many as 500 new jobs.
The company said the investment is “contingent upon local zoning and annexation approvals.”
Lilly CEO David Ricks, who has called for the state to become more competitive, said in a news release that the company is “committed to investing and innovating in Indiana.”
Eli Lilly was founded in 1876 in Indianapolis, where the company remains headquartered.
“These new sites will add capacity in support of our growing pipeline of innovative medicines, while also creating more high-tech jobs for Hoosiers,” Ricks said in a news release. “We are pleased to be a founding investor at the LEAP Lebanon Innovation District.”
In January, the company announced that it would invest about $1 billion to build a new plant in North Carolina that would create about 600 jobs.
In February, the company announced that it would invest $700 million on a site in Boston.
Lilly has invested more than $2.5 billion in its facilities over the past five years.