Eli Lilly announced on Tuesday it plans to invest an additional $1.6 billion to expand two of its new manufacturing sites in Lebanon, Indiana.
The investment adds to the $2.1 billion the company committed last year to build one million square feet of space for developing active ingredients and therapeutic modalities. The additional funds will also add 200 more jobs to the site, bringing the total to 700, the company said.
Eli Lilly will begin hiring for engineers, operating personnel and lab technicians once construction is complete on the new manufacturing sites, according to a state release.
As part of its announcement, the Indianapolis-based biomanufacturing giant said it was committing $15 million over the next five years toward the Ivy Tech Foundation, a nonprofit that supports students in the Ivy Tech Community College system. The funds will provide up to 1,000 scholarships for students pursuing pharmaceutical manufacturing.
"We're investing at record levels in our home state to help our communities and economy thrive and enhance educational opportunities for more students," Eli Lilly's Chair and CEO Dave Ricks said in a statement.
In January, Eli Lilly announced it planned to invest $450 million in its manufacturing plant in Research Triangle Park, North Carolina. The expansion would help the company meet increased demand for its diabetes medicines.
