Local leaders call $3 billion investment a watershed moment for area
On an investment spree with billions of dollars worth of projects ongoing globally, Indianapolis-based Eli Lilly and Company chose Kenosha County for its latest — and one of its largest — investments.
The pharmaceutical giant announced Thursday that it was planning a $3 billion expansion in Pleasant Prairie at a site formerly home to Nexus Pharmaceuticals. The company expects to create 750 new jobs there as part of the expansion. Approximately 100 employees already work at the roughly 100,000-square-foot facility at 10300 128th Ave. in the Prairie Highlands Corporate Park.
The project is the company’s largest U.S. manufacturing investment outside of its home state and will join $23 billion in manufacturing expansions that the company has begun since 2020.
Lilly revealed at a press conference that the Kenosha County facilities will primarily be producing two of its blockbuster drugs: Mounjaro, a treatment for type 2 diabetes, and Zepbound, an anti-obesity medication — both of which have exploded in demand over the last year, making it difficult for manufacturers to keep up with demand.
“We’ll use digital automation to help us improve speed and efficiency. This will really be a cutting edge, high tech manufacturing site,” Lilly chief executive officer David Ricks said. “Lilly is focused on innovation, which meshes well with that of Wisconsin, including the state’s emphasis on personalized medicine, biohealth technology and precision technology, precision manufacturing and automation. This marriage hopefully will produce a great outcome, both for our company and your state.”
As an already built and FDA-approved site, Lilly is anticipating a shorter timeline to production than at an undeveloped site. Ricks said the aspects of the deal that drew Lilly to Pleasant Prairie were the speed in which permits can be completed, access to the site during construction and available workforce.
“Speed for us is a critical factor in delivering a new production space,” Ricks said. “It’s about the logistics of getting people on site to construct this facility, permitting, collaboration from the local to the state level to enable our project.”
Further, Ricks said the availability of vacant land surrounding the 128th Avenue site was also a draw. Already, Lilly has purchased a 324,000-square-foot industrial building in the Village of Bristol for $40.8 million, near the former Nexus Pharmaceuticals building, and an additional 31 acres of vacant land surrounding that building for $10.2 million.
Details of any tax or economic incentives from the state or local governments have not been released. Gov. Tony Evers declined to comment on if an inventive package was offered but said the Wisconsin Economic Development Corp. will release that information soon.
“Lilly’s incredible investment here is a watershed moment for Kenosha County,” said Nicole Ryf, president of the Kenosha Area Business Alliance. “To have one of the largest pharmaceutical companies in the world choose to expand its manufacturing operations in our community is thrilling and speaks to the hard work our leadership has done across all levels to make Kenosha County a premier destination for new investment in the Milwaukee-Chicago corridor.”
Read more at the BizTimes.com.