INDIANAPOLIS — Elanco Animal Health Inc. which is now the second-largest independent animal health company in the world, announced plans to locate its global headquarters in Indiana following its 2018 IPO and recent acquisition of Bayer Animal Health. Elanco has selected for its headquarters 45 acres of a 91-acre former industrial site on the southwest corner of downtown Indianapolis that has sat vacant since the General Motors (GM) stamping plant closure in 2011.
The decision will retain 1,600-plus jobs, and create more than 570 new, highly skilled, high-wage Hoosier jobs. It will also revitalize a vacant industrial site, expand boundaries of downtown Indy
Anchored by this new headquarters, the company will invest more than $300 million in its Indiana operations, establishing its base of operations and a center of excellence in Indiana. Elanco will retain its manufacturing centers in Clinton, Indianapolis and Terre Haute and plans to center its R&D activity in the state to support its continued growth and innovation.
The company expects to break ground in Indianapolis in the first half of 2021. Elanco, which is currently headquartered 25 miles east in Greenfield, expects the new headquarters to be complete in the next two to three years. The company is committed to working aggressively in partnership with the state to identify leasing options for its current facility to ensure a smooth transition and ongoing quality career opportunities in Greenfield.
The state, city and Elanco will work together to advance a vision of walkable, mixed-use space that expands the boundaries of downtown Indianapolis across the White River and brings renewed vibrancy to the area for years to come. The city of Indianapolis will help increase accessibility to the site through construction of a new, two-way bridge across the river at the current location of Henry Street. In addition, the city and state will partner on the development of a new pedestrian bridge connecting both banks of the White River. The remaining property along the south and southwest sides of the former GM stamping plant site will be available for future mixed-use development that prioritizes connectivity, livability and a seamless integration with the adjacent neighborhoods.
The city of Indianapolis, in addition to assisting with connectivity through the vehicular and pedestrian bridges, will offer up to $64 million in Tax Increment Financing (TIF) to assist with redevelopment of the site and construction of the corporate headquarters.
