Animal health company Elanco announced plans Friday to locate its new global headquarters in Indianapolis.
The company will use about half of the former General Motors stamping plant site for the new campus.
Elanco will invest more than $300 million in its Indiana operations, further increasing the company’s presence in the state.
The former GM plant location has been vacant since 2011.
“For decades, the GM Stamping plant served as an anchor for near westside Indianapolis families,” Indianapolis Mayor Joe Hogsett said in a news release. “When the facility closed, residents mourned the loss – not just because of the economic impact, but out of concern for the long-term vibrancy of the community. Today’s announcement will mark a new chapter for the neighborhood, spurring greater connectivity beyond the Mile Square and catalyzing transformative development opportunities along the White River and beyond.”
Current manufacturing sites in Indianapolis, Terre Haute and Clinton will remain.
The new campus will bring more than 500 additional jobs to the state, in addition to the current 1,600 Hoosiers the company now employs.
“With a shared vision for the future of the agbioscience industry in Indiana, we are pleased Elanco can serve as a catalyst through our global headquarters and base of future operations in Indianapolis,” Elanco president and CEO Jeff Simmons said in a news release.
Elanco spun off from Eli Lilly in 2018. Last year, the company acquired Bayer Animal Health, becoming the second largest independent animal health company globally.