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Lilly to spend $180M doubling size of Indy plant

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Eli Lilly and Co. plans to double the size of a manufacturing plant already under construction southwest of downtown Indianapolis, investing another $180 million on insulin production and related products.

The Indianapolis-based pharmaceutical giant announced in November that it would spend $140 million to construct an 80,000-square-foot plant for filling cartridges for insulin-injecting pens. Construction is already under way for the plant on South Harding Street, adjoining Lilly’s existing manufacturing complex known as Lilly Technology Center.

The new $180 million investment would add another 84,000 square feet to the project, allowing Lilly to add another cartridge-filling line, the firm announced Tuesday. The space also would be used to increase Lilly’s manufacturing capacity for the active ingredient in insulin.

About 175 workers will staff the plant once it’s in full operation. The jobs will be filled by a combination of existing and new employees, according to Lilly spokesman Ed Sagebiel.

In addition, Lilly is planning several other projects for its Indianapolis operations totaling about $80 million, including a $40 million product-inspection center.

The firm has submitted a request to city officials for a tax abatement on the full $400 million investment, between the two phases of the new plant and ancillary projects, Sagebiel said. Lilly’s request calls for a 10-year abatement that would save the firm about $30 million.

“We believe that Indianapolis is a good place for this, as we will continue to benefit from the engaged, committed and highly skilled work force we have in this city,” said Myles O’Neill, senior vice president of global parenteral drug product and delivery services, in a prepared statement.

Construction of the production area for insulin’s active ingredient could be complete by December and in operation by March 2014, according to the company. Work on the additional cartridge filling line could be finished by 2016.
 

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  • Zyprexa and diabetes
    Remember-Zyprexa (Olanzapine) Diabetes connection conflict of interest. Eli Lilly made $70 billion to date,paid $1.4 billion in criminal fines. Thousands got diabetes as Zyprexa side effect and have to take Lilly insulin to treat the diabetes that was caused by their Zyprexa. Eli Lilly Zyprexa can ruin your Pancreas and make you a type 2 diabetic in just a few months of use.I took it 1996-2000 and now am a diabetic for it. 'Atypical' antipsychotic Zyprexa is the worst offender of them all.Google-Haszard Zyprexa - got a page up. -Daniel Haszard
  • Wow
    Our becomming more fat, lazy and out of shape is going to make this happen more and more!

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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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