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Lilly Announces Plans for New $100 Million Research Facility

18 Jul 2001 - Eli Lilly and Company has announced plans for a $100 million research facility to be built at its corporate headquarters in Indianapolis. The building, scheduled for completion in 2003, will provide laboratories for approximately 370 scientists and support personnel engaged in drug discovery research activities. The 275,000-square-foot structure will contain five stories consisting of four floors of laboratories and a basement.
 
Lilly's $1 billion, 10-year commitment to Indianapolis
 
This project is a part of a $1 billion, 10-year commitment to Indianapolis. Over the next decade, the company will invest $1 billion in its Indianapolis operations, while creating more than 7,500 new jobs. Lilly's 10-year investment compares to a Fortune 500 company relocating to Indianapolis every two years over the span of the investment period.
 
In the last two years, the company has either started or financially committed to nearly $920 million in new capital projects to be completed over the course of the next four to five years.
 
Additionally, the company added 2,000 new jobs in the first two years of the expansion, achieving more than 25 percent of its committed employment growth. This year alone, Lilly anticipates adding an additional 1,600 - 1,700 new employees to its Indianapolis operations.
 
Lilly's commitment to research and development
 
A significant portion of Lilly's 10-year investment includes construction of new research and development facilities for scientists and support personnel engaged in drug discovery and research. In 2000, Lilly recruited more than 600 scientists, bringing its total number of researchers to 6,900 at 11 sites worldwide. The company also increased its global research and development investment by 13 percent, to $2 billion, in 2000. This represents 19 percent of the company's total revenue.