Lilly Announces North Carolina Manufacturing Site
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowIndianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced a major investment in a new manufacturing facility in North Carolina’s Research Triangle Park.
The pharmaceutical company says the approximately $470 million project will create more than 460 jobs once the plant in Durham is operational.
“In the past two years, we have invested billions of capital in new U.S.-based manufacturing because the 2017 tax reform rebalanced the playing field in favor of the American worker,” said David Ricks, Lilly chairman and chief executive officer.
The company says the facility will produce injectable products and delivery devices.
“Our exceptional workforce draws global companies as we continue to grow North Carolina into a worldwide hub for the biotechnology industry,” said North Carolina Governor Roy Cooper.
Cooper says the North Carolina Department of Commerce led the state’s support for the company during its site evaluation and decision-making process.
Lilly says the project will be facilitated by an $8.6 million state grant approved by the North Carolina Economic Investment Committee. The grant, spread over 12 years, will be paid if Lilly meets job creation and investment targets.