Eli Lilly Plans $140M Plant Expansion in Indianapolis
Eli Lilly and Co. has announced plans for a $140 million expansion of the company’s Indianapolis insulin manufacturing operations. The company’s initiative represents one of the largest economic development investments in both the city and state in 2012.
Construction on the 80,000-square-foot expansion will begin immediately with completion expected in March 2014. More than 100 permanent jobs for highly skilled technicians, scientists, and engineers will be created once the facility becomes operational in 2015.
The new center will manufacture insulin cartridges for people with diabetes. It will be the first-of-its-kind facility for Lilly in the U.S.
“Lilly’s expansion brings new jobs and investment of new capital to our local economy, demonstrating the company’s confidence in doing business in Indianapolis and strengthening our advanced manufacturing and bioscience industries,” said Indianapolis Mayor Greg Ballard. “We are pleased to see this industry leader that calls Indianapolis home continuing along its growth path, which is good for our community and the Central Indiana region as a whole.”
In other news, officials have broken ground on the first permanent supportive housing facility for homeless veterans in Indianapolis. Called Lincoln Apartments, the 75-unit project will be developed on the site of an iron works foundry along Holmes Avenue on the city’s near west side.
According to Inside Indiana Business, the City of Indianapolis donated the land, which had sat vacant since 1962, and remediated environmental problems with the help of federal and state grants. The total cost of the new development amounts to approximately $11.6 million and includes the value of grants and federal housing tax credits.
The community will offer fully furnished apartments, and it is expected to open by next fall. The development team is comprised of Building Blocks Non-Profit Housing Corp., Volunteers of America of Indiana Inc., Milner and Caringella Inc., Roudebush VA Medical Center, and Keystone Construction.
Photo credits: www.bdmd.com
For more market data on Indianapolis, click here.