Lilly announces $1 billion investment in new manufacturing facility in North Carolina
Eli Lilly plans to invest over $1 billion in a new manufacturing site in Concord, North Carolina, creating nearly 600 new jobs. This facility aims to enhance manufacturing capacity for injectable products and leverage advanced technology. The decision reflects Lilly's commitment to growth in the pharmaceutical sector and its ongoing investments in North Carolina, totaling over $4 billion in the past five years. The investment is contingent on local government approvals, and an additional $500 million will be spent on a biopharmaceutical facility in Ireland.
- Investment of over $1 billion to create a new manufacturing facility in North Carolina.
- Creation of nearly 600 jobs for skilled workers, boosting local employment.
- Enhances production capacity for injectable products and benefits from advanced technology.
- Strengthens relationships with local governments and universities in North Carolina.
- Total investment in global manufacturing exceeds $4 billion over the last five years.
- Investment contingent on local government permitting and approvals, which may delay the project.
INDIANAPOLIS, Jan. 28, 2022 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) plans to invest over
"Lilly is entering an exciting period of growth and we are committed to delivering innovative medicines to patients around the world," said Edgardo Hernandez, senior vice president and president, Lilly Manufacturing Operations. "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. We are pleased to again partner with North Carolina to bring jobs to American workers and provide more medicines that patients need to address health challenges."
Lilly selected Concord because of the manufacturing technology experience of the local labor force; its proximity to universities with strong science, technology, engineering and math (STEM) programs; and its access to major transportation infrastructure. In 2020, Lilly announced a
Lilly 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. In addition, an estimated 500 additional positions will be required while the facility is under construction.
"Lilly's choice brings more good jobs to North Carolina from one of our most important industries," said North Carolina Governor Roy Cooper. "North Carolina has become a premier hub for the world, thanks to our exceptional workforce and commitment to education."
Over the last five years, Lilly has invested over
The investment in Concord is contingent upon completion of county and municipal government permitting and related approvals. Lilly partnered with several organizations throughout the project, including the Office of the Governor, the Department of Commerce, Cabarrus Economic Development Corporation, the City of Concord, Cabarrus County, the Economic Development Partnership of North Carolina, the North Carolina Biotechnology Center, Rowan Cabarrus Community College, and the North Carolina Community College System.
About Eli Lilly and Company
Lilly is a global health care leader that unites caring with discovery to create medicines that make life better for people around the world. We were founded more than a century ago by a man committed to creating high-quality medicines that meet real needs, and today we remain true to that mission in all our work. Across the globe, Lilly employees work to discover and bring life-changing medicines to those who need them, improve the understanding and management of disease, and give back to communities through philanthropy and volunteerism. To learn more about Lilly, please visit us at lilly.com and lilly.com/newsroom. C-LLY
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about planned capital investments in a new manufacturing site and reflects Lilly's current belief. There are substantial risks and uncertainties in the manufacturing process, development, and commercialization of pharmaceutical products which could impact the overall commercial success of our products. For further discussion of these and other risks and uncertainties, see Lilly's most recent Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.
Refer to: | Molly McCully; mccully_molly@lilly.com; (317) 478-5423 (Media) |
Kevin Hern; hern_kevin_r@lilly.com; (317) 277-1838 (Investors) |
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SOURCE Eli Lilly and Company
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