Lilly wants to know how to improve new medicines and speed them to market more quickly. The project promises hundreds of high-paying jobs and could help lift Lilly among a handful of the most valuable companies in America.
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In recent years, the pharmaceutical manufacturer has seen dizzying growth in its pipeline for a wide range of diseases. And modes of drug delivery are becoming increasingly complex.
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The new funding, for an advanced manufacturing and drug development center, will bring the Indianapolis-based drugmaker’s total investment in the Boone County site to more than $13 billion.
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The company said the site footprint will not expand, but the company will fill in the property with more buildings and equipment. Manufacturing capacity will almost triple there.
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The Indiana Finance Authority approved the loans to support the proposed extension of the Citizens Energy system to provide 25 million gallons of water per day to the LEAP Lebanon Innovation District and surrounding Boone County developments.
Casey and Abbie Samson own and operate the colonial outfitter that produces and sells more than 800 varieties of mostly late-18th-century-era clothing, accessories and living-history supplies.
More than two years after Gov. Eric Holcomb’s Indiana Economic Development Corp. quietly disclosed plans for the 9,000-acre campus in Boone County, the endeavor’s future now largely depends on the guidance of the next governor.
The 1,600-square-foot restaurant opening Wednesday “will be the first of many planned for the Hoosier State,” the company said.
The Citizens Energy and Lebanon Utilities project would supply the Eli Lilly and Co. manufacturing complex expansion, additional park tenants and new development in the city.
The new project would involve Citizens Energy likely tapping into water systems in Westfield and Whitestown to sell the resource to Lebanon Utilities for the city’s growing needs, though discussions are ongoing, officials said.
Multiple retailers, restaurants and other businesses recently opened, closed or began planning new locations in the north suburbs of Indianapolis.
Indianapolis-based Pure Development has developed more than 35 real estate projects nationally and has a contract with the Indiana Economic Development Corp. to lead efforts on the LEAP Lebanon Innovation and Research District.
South Carolina-based RealtyLink is suing Lebanon for more than $25 million, alleging the city withdrew incentives after the project was delayed by the city’s inability to service the park with water.
Among the recipients are the Lido Building, formerly a movie theater that opened in 1914 as the Olympic Theatre, and the Collier’s Corner Building, which was constructed in 1883. The Eichman Exchange Building was rebuilt in 1938 following a fire.
Former insurance broker Brian Simms perpetrated the fraud through his company, Brendanwood Financial Brokerage LLC in Carmel.
Without an additional source, Lebanon cannot currently offer water to companies and developers looking to build in the city who have not already reserved allocations.
Lilly said the new investment will allow it to hire 200 more workers at the complex, including engineers, scientists, and lab technicians, for a total of 900 full-time workers when it is fully operational.
The company plans to develop at least 12 buildings totaling more than 1.6 million square feet. The project is expected to anchor the LEAP Research and Innovation District northwest of Lebanon.
The 110,000-square-foot facility is expected to employ 163 workers by 2029, Boone County and city officials announced Tuesday.
The Farmers Bank Fieldhouse opened Feb. 9 and features eight basketball courts, 12 pickleball courts, one turf field and pitching and hitting tunnels.
Bill author Sen. Brian Buchanan, a Republican from Lebanon, said the legislation is intended to “streamline the process of economic development in Indiana by making sure all stakeholders are involved.”
The LEAP Research and Innovation District under development near Lebanon represents a shift in the way the Indiana Economic Development Corp., the public-private state agency overseeing the project, is working to attract companies and create jobs.
United States Cold Storage announced Tuesday it has received approval from the Lebanon City Council for its plan to add 60,000 square feet to the facility and create 30 jobs.
The move comes as the Indiana Economic Development Corp. faces questions about its plan to tap the Wabash River aquifer and withdraw as much as 100 million gallons per day for an advanced manufacturing district in central Indiana.
