This story has been updated.
GREENFIELD — Elanco Animal Health, which has been associated with Greenfield since the days it was a promising subsidiary of Eli Lilly and Co., announced this morning (Friday, Dec. 4) that it would build a new world headquarters on the west side of Indianapolis.
Elanco’s Greenfield campus, built a decade ago when Elanco was becoming a key part of Lilly’s business, will be vacated.
In a news release, the company said it would move to a 45-acre former industrial site located in the southwest corner of downtown Indianapolis on the White River, with a restricted option for an additional 20 acres. The area is the site of the former GM stamping plant, and developers have been eyeing it for years.
The company said it would spend $100 million on the complex. It is expected to take two to three years to complete.
The Indianapolis Business Journal reported that the state will provide up to $73 million in conditional tax credits over a 10-year period for the project. The Indiana Economic Development Corp. is also providing 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.
The IEDC also offered up to $7 million in assignable redevelopment tax credits, up to $2 million in conditional Hoosier Business Investment 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 IBJ reported.
Elanco has a long history in Greenfield. Before it built its campus in Progress Park on the north side of the city, it maintained offices and labs at Eli Lilly’s Greenfield Laboratories on West Main Street. Elanco separated from Lilly in 2018 in an initial public offering, making Greenfield home to a leading animal health company.
The company experienced tremendous growth during its time in Greenfield. A number of acquisitions — especially the $7 billion purchase of Bayer AG’s animal health division — has made it the world’s second-largest animal health company, behind only New Jersey-based Zoetis.
“It is gratifying to return to our roots in Indianapolis – where we started as a subsidiary of Eli Lilly & Co in 1954 — to continue the acceleration of our innovation agenda and provide promising careers to talented Hoosiers while attracting top global talent to the State,” said Jeff Simmons, Elanco’s CEO. “Additionally, we are grateful for the community support we have received in our current home in Greenfield. We look forward to working with the state to find a future tenant for the site.”
Colleen Dekker, a spokeswoman for Elanco, told the Daily Reporter in an email that the company is committed to helping Greenfield move forward.
“We’ll be working with state and local leaders over the next few years to find a new tenant for our Greenfield campus,” she said. “Ensuring a smooth transition is very important to us.”
John Russell of the Indianapolis Business Journal contributed to this report. This is a developing story and will be updated.
