Eli Lilly (NYSE:LLY) announced today that it plans to invest more than $1 billion to create a new manufacturing site in North Carolina.
Indianapolis-based Eli Lilly’s new facility, which it expects will create nearly 600 jobs in Concord, North Carolina, will manufacture parenteral (injectable) products and devices while increasing the company’s manufacturing capacity.
The company said in a news release that it selected Concord as the location 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.
Last year, the company announced a $470 million investment in Research Triangle Park, North Carolina. Lilly said the new Concord site, in conjunction with the investment in Research Triangle Park, will allow the company to strengthen relationships with local governments and universities while diversifying its presence in the state.
The company expects 600 new jobs for highly skilled workers including scientists, engineers and manufacturing personnel. An estimated 500 additional positions will be required while the facility is under construction. The investment in Concord remains contingent upon the completion of county and municipal government permitting and related approvals.
“Lilly is entering an exciting period of growth and we are committed to delivering innovative medicines to patients around the world,” Lilly Manufacturing Operations SVP and President Edgardo Hernandez said in the release. “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.”