Council Set For Lilly Tax Break Vote

(Rendering Provided by Eli Lilly and Co.) Lilly's planned $65 million project follows R&D investments in Massachusetts

The City-County Council in Indianapolis is slated to vote Monday on approval of tax abatement for a $65 million investment from Eli Lilly and Co. (NYSE: LLY) to expand its global research and development headquarters. The project is expected to help retain 165 jobs. It will be an addition to a larger company-wide R&D expansion the pharmaceutical maker unveiled two years ago.

The new laboratory facility is expected to open within two years and will focus on small molecules for oral treatments.

If cleared by the council, it will return to the Metropolitan Development Commission for consideration of final approval. The MDC gave it the preliminary go-ahead last month.

You can connect to more about the project, including an interview with Vice President of Small Molecule Drug Development Bret Huff, by clicking here.