Elanco's new offices will go up on the northwest corner of State Road 9 and I-70, where Indianapolis developer Browning Investments Inc. is building a 52-acre life sciences business park. Elanco will occupy 20 acres of the park.
Elanco, which accounts for about 10 percent of Lilly's sales, employs 320 people at its headquarters in Greenfield, located near U.S. 40 and Meridian Road. But Indianapolis-based Lilly has agreed to sell that site to New Jersey-based Covance Inc.
Elanco will lease its space from Covance until Browning completes construction on the new facility. Construction is scheduled to begin in March.
The new headquarters will consolidate Elanco employees, who are spread among several buildings, including converted horse stables that are more than 100 years old, said Elanco spokeswoman Joan Todd.
In a statement, Elanco President Jeff Simmons said, "The new Elanco headquarters will centralize the company's operations, while saving us at least $1 million in annual operating expenses."
Elanco employs more than 2,000 people worldwide at offices in more than 30 countries.