Lilly to Invest $400M, Create 100 Jobs in Indy
INDIANAPOLIS -- Indianapolis-based Eli Lilly and Co. (NYSE: LLY) is further growing its Indianapolis operations. Lilly has announced plans to invest $400 million in its manufacturing facilities at the Lilly Technology Center campus and create nearly 100 jobs. The effort, Lilly says, is the result of increasing demand for its current medicines and will also accommodate additional manufacturing needs for future medicines.
The company says the investment will include enhancements to existing manufacturing facilities that make insulin. It will also create additional capacity for Lilly's growing portfolio of diabetes medicine and provide initial capital investments for future medicines.
"These investments demonstrate Lilly’s commitment to our manufacturing footprint in Indiana and the United States, and have been made possible by the tax reform measures passed by Congress in 2017," David Ricks, chief executive officer of Lilly, said in a news release. "With more capital available as a result of tax reform, Lilly and other Indiana companies are able to re-invest and expand production here at home. This is crucial for us to continue to advance our state’s economy and drive future investment – adding high-tech jobs and facilities that keep Indiana competitive in the global marketplace."
Myles O'Neill, president of manufacturing operations for Lilly, says the facilities will see technology upgrades featuring high levels of automation, robotics, new technologies and advanced data analytics. He says the upgrades will support the company's syringe filling, device assembly and packaging operations, in addition to highly-skilled manufacturing jobs.
"To make medicine, we need highly skilled technicians, scientists and engineers, who are economic catalysts for local communities," O'Neill said.
Lilly did not provide a timeline for the completion of the project.
The announcement comes more than two years after Lilly announced an $850 million investment into its U.S. operations, including $85 million in Indianapolis. In a March 2017 interview on Inside INdiana Business with Gerry Dick, Ricks said tax reform "could unleash more investment for us here in Indiana."
Lilly says it has invested more than $5 billion in the U.S. since 2012, the majority of which went to Indiana facilities.