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Eli Lilly and Co. announced Friday it will invest more than $1 billion in a new manufacturing plant in North Carolina that will create nearly 600 jobs there.
The Indianapolis-based drugmaker said the plant will make injectable products and devices and increase its manufacturing capacity.
The North Carolina Department of Commerce said it would reimburse Lilly up to $12.1 million over 12 years through its Job Development Investment Grant.
Lilly did not say whether it considered Indiana for the plant, but a spokeswoman pointed out that over the last five years, the company has invested $2.6 billion in Indiana, with over half of that investment occurring in manufacturing. The company now has more than 3,700 manufacturing workers in Indiana.
“Lilly is a global organization committed to manufacturing and delivering life-changing medicines to customers and patients around the world,” Lilly spokeswoman Molly McCully wrote in an email to IBJ. “In order for our supply chain to meet the needs of patients and to diversify our talent base, we invest abroad and in locations across the U.S.”
Separately on Friday, Lilly announced plans to invest $500 million in a new biopharmaceutical manufacturing facility in Limerick, Ireland.
Together the investments show that Lilly is ramping up its manufacturing capacity to produce a wide array of medicines. The company will report 2021 year-end earnings on Feb. 3 and talk about its pipeline of new products.
Lilly said the additional manufacturing will help meet future demand for new medicines to treat diabetes, Alzheimer’s disease, cancer and autoimmune conditions.
The $1 billion investment in Concord, North Carolina, represents one of Lilly’s largest manufacturing investments in recent years. Over the last five years, Lilly has invested more than $4 billion in global manufacturing, including more than $2 billion in the U.S.
“Lilly is entering an exciting period of growth and we are committed to delivering innovative medicines to patients around the world,” Edgardo Hernandez, senior vice president and president, Lilly manufacturing operations, said in written remarks. “Expanding our manufacturing footprint in North Carolina enables us to continue to produce today’s medicines while providing additional capacity to manufacture the medicines of tomorrow.”
Lilly said it selected Concord because of the manufacturing technology experience of the local labor force; its proximity to universities with strong science, technology, engineering and math programs; and its access to major transportation infrastructure.
In 2020, Lilly announced a $470 million investment in North Carolina’s Research Triangle Park.
Lilly said it plans to create nearly 600 new jobs for highly skilled workers such as scientists, engineers and manufacturing personnel, who will use advanced technology to produce life-changing treatments and devices to make life better for people around the world. It did not provide a salary range for the positions.
In addition, an estimated 500 additional positions will be required while the facility is under construction.
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Indiana! Does this tell you anything about the state of our educational system?
Indiana! Does this tell you anything about our educational system?
Shame on LLY for turning your back on your home state. Of course, if the legislature were focusing on important things, this would not have happened. By the way, how’s that bill coming along…the one that forces physicians to give patients ivermectin for covid if they request it…and prohibits pharmacists from telling said patients ivermectin doesn’t work for covid and is dangerous to take? I guess we are lucky lly isn’t leaving this backwater state altogether. Also, would help if we didn’t have a mayor who is asleep at the wheel.
Michael, did you read the article near the front? close to 2.6 Billion in Indiana the past 5 years? That doesn’t seem like they are turning their back.
Do you work for LLY, by the way, Mark W. Am SURE you do.
Let’s not forget that we did, just within 2-3 years ago from the announcement, get nearly a 1/2 billion dollar additional investment from Lilly at its Indiana locations. So – you all acting like Lilly is turning its back on this state and city, best read the announcement again and go look at the work being done at their tech center. Wish people would remember and research (I know COVID took its toll on peoples memory) but come on. Lilly is still investing here.
https://investor.lilly.com/news-releases/news-release-details/lilly-announces-400-million-capital-investment-manufacturing
Oh, and the over $208MM along given from the Lilly Endowment just to Indiana organizations in 2020. Mind you, Lilly Endowment had no indication on their annual report of any of the funds going to North Carolina…..if we want to really compare the dollars Lilly is providing to Indiana vs North Carolina.
Decision making by the Company has nothing to do with the Endowment, and vice versa.
The only connection is the Endowment holding over 10% of the Company stock.
Lilly Endowment is a private charitable foundation that was created in 1937 by Lilly family members, it is not controlled by the corporation Eli Lilly and Company—the Endowment owns stock in the corporation, and that is the only connection.
There is a separate Eli Lilly and Company Foundation, a private tax-exempt organization that was created in 1968 by the corporation. This entity is the chartable arm of the company–it gives a good amount of money each year, but not on the scale of the separate Endowment.
Complete nonsense. IN claims to dominate in advanced MANUFACTURING jobs. So this would/should have been ideal for LLY’s home state. Actually, I don’t blame lly at all for looking outside IN. As IN continues to become more and more ignorant, more announcements such as this will follow. I am actually leaving soon, after 56 years here. IN has become just too sickeningly far far right.
And watch. Within 10 years, LLY will no longer be headquartered in IN.
CONCORD, N.C. (AP) — Pharmaceutical giant Eli Lilly and Co. will build a new manufacturing operation in central North Carolina on the site of a former cigarette plant that’s already attracted other companies to the region.
Eli Lilly, which made the announcement on Friday with government officials, plans a five-building campus at The Grounds economic development site in Concord, news outlets reported. The nearly $1 billion investment will lead to nearly 600 jobs that will offer average salaries of nearly $70,000.
Indianapolis-based Eli Lilly will manufacture parenteral — or injectable — products and devices at the plant, according to Gov. Roy Cooper’s office. Eli Lilly has played a role in developing insulin and COVID-19 treatments.
Lilly could receive $12.1 million in payments from the state if it meets investment and job-creation goals that served as the basis for an incentives award. Concord and Cabarrus County leaders will hold meetings next month to consider performance-based property tax grants.
The company also announced in 2020 that it would build a plant in Research Triangle Park.
Most major pharma is located on the east coast, NJ, PA, NY, MA along with the associated brainpower.
If I’m Lilly I’m OWNING the Southeast, NC and all its related brainpower. Better weather and comparable wages to the Midwest for manufacturing.
Lilly doesn’t owe Indiana anything.It was a financial and business decision to do what they did.Most of the comments are disingenuous and don’t take into account that Lilly has given generously over the years to the city.Indy has definitely benefited from Lilly.
Completely agree, actually. Just a shame IN hasn’t focused on maintaining an environment that would support LLY choosing to put this investment here. That’s on you, Hogsett. The job of mayor was always way out of your skillset. Also governor has to shoulder a bit of the blame. But…the ultra-right-wing, christo-fascist, fundamentalist state legislature is most to blame. Which US state will be the first to become Gilead? So many competing to do so. My bet is on DeSantistan. That would be FL.