Eli Lilly Announces Expanded $1.6B Investment At Groundbreaking For Boone County District

By Niki Kelly, Indiana Capital Chronicle

April 17, 2023

Snowflakes couldn’t stop the long-awaited groundbreaking of two new Eli Lilly manufacturing sites within the LEAP Innovation and Research District in Boone County Monday — with local, state and federal officials on hand to throw dirt and celebrate.

Lilly’s Chair and CEO Dave Ricks used the moment to announce an expanded investment of $1.6 billion. That brings the total investment in the site by Lilly to $3.7 billion and up to 700 new jobs.

“We’re investing at record levels in our home state to help our communities and economy thrive and enhance educational opportunities for more students,” he said.

Ricks and others said Lilly plans to use the site to make life-saving and life-extending medicines for patients around the world. He also announced a $15 million commitment to the Ivy Tech Foundation to fund up to 1,000 scholarships for Hoosiers interested in pursuing careers in pharmaceutical manufacturing.

Gov. Eric Holcomb said there is a second war of the states ongoing: an economic development war. So Indiana is investing in high-tech jobs and innovation.

“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,” the governor said.

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, the company has said.

The Lilly project covering about 600 acres is part of a larger innovation park of 9,000-plus acres that the state hopes to use to lure high-tech partners to the state. The Indiana Economic Development Corporation, a quasi-public agency, is taking on the role of developer and using tax dollars to invest in the creation.

There is already a $160 million appropriation for the park, but that is just an initial step. Roads, additional property purchases, utilities and other infrastructure such as a possible water pipeline could push the project into the billions.

Some farmers and homeowners in Boone County have been alarmed by the rapid growth. Holcomb and others on Monday stressed that all the sales are voluntary but acknowledged that change is hard.

“My parents remind me when Lafayette Square was a cornfield,” Holcomb said of an Indianapolis shopping mall. “We’ll continue to work with each and every individual on their concerns, understanding that change this scale and size maybe won’t always be unanimous.

He noted that family farms in the area have the ability to benefit the wider population.

The Indiana Capital Chronicle is an independent, nonprofit news organization dedicated to giving Hoosiers a comprehensive look inside state government, policy and elections. The site combines daily coverage with in-depth scrutiny, political awareness and insightful commentary.