Elanco Animal Health Inc., now the second-largest independent animal health company in the world, plans to invest $300 million and locate its global headquarters on 45 acres of the former GM stamping plant industrial site in Indianapolis, Indiana.
The new site will allow Elanco to consolidate its global operations and more than 1,000 team members at one location. The company will create up to approximately 575 new, high-wage jobs in Indiana by the end of 2030.
A dedicated Elanco build team will begin planning for the downtown site immediately, and the company expects to break ground in Indianapolis in the first half of 2021. Elanco will retain its manufacturing centers in Clinton, Indianapolis and Terre Haute and plans to center its R&D activity in the state to support its continued growth and innovation.
“With a shared vision for the future of the agbioscience industry in Indiana, we are pleased Elanco can serve as a catalyst through our global headquarters and base of future operations in Indianapolis,” said Elanco president and CEO Jeff Simmons. “In partnership with Governor Holcomb, Mayor Hogsett and IEDC, we look forward to continuing our nearly 70-year history here and serving our new community. Indiana has created a strong environment for business, and we have deep appreciation for local leaders that have worked to position the Hoosier state for the future.”
Today’s announcement charts a new path forward for development at the former General Motors (GM) stamping plant site, which has sat vacant since the plant’s closure in 2011. Development of the 91-acre industrial site is moving forward now after the Indiana Economic Development Corporation reached an agreement with Ambrose Property Group to purchase the site, partnering with the city of Indianapolis to advance near-term economic development on the site and supporting the transformational redevelopment of the state’s Capital City.
In addition to providing land for the new headquarters and supporting efforts to backfill Elanco’s Greenfield site, the IEDC offered up to $73 million in conditional tax credits over a 10-year period and up to $4 million in training grants based on the company’s commitment to retain 1,623 Hoosier jobs and create up to 573 new, high-wage jobs. This offer of tax credits for retention is subject to the review of the State Budget Committee. The IEDC offered up to $7 million in assignable redevelopment tax credits, up to $2 million in conditional Hoosier Business Investment (HBI) tax credits, and up to $500,000 for relocation expenses based on the company’s plans to invest significantly in a new global corporate headquarters.
The city of Indianapolis, in addition to assisting with connectivity through vehicular and pedestrian bridges, will offer up to $64 million in Tax Increment Financing (TIF) to assist with redevelopment of the site and construction of the corporate headquarters.
Elanco currently operates 19 manufacturing facilities and employs approximately 9,000 associates worldwide. With its decision to anchor its corporate headquarters and base of operations in Indiana, Elanco is committed to retaining the more than 1,600 Hoosiers it employs across its corporate and manufacturing operations throughout the state over the next decade and to helping relocate more roles to Indiana, with the support of IEDC.