Virginia Offers Sweet Deal to Win Lilly's $425 Million Insulin Plant

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Eli Lilly & Company (NYSE:LLY) (Indianapolis, Indiana) has chosen Prince William County, Virginia as the site for a new $425 million, 600,000 square-foot manufacturing plant, making it one of the top 10 largest economic investments in state history. The new facility will formulate, fill, and package Humalog and Humulin, Lilly's biotechnology products that are used for the treatment of diabetes. North Carolina and South Carolina were also in the running for the massive project, which could eventually represent $1 billion in total investment.

Lilly has awarded Suitt Construction Company (Greenville, South Carolina) the construction management contract. Suitt will be responsible for the administration of all areas of construction, including site development, pre-cast concrete erection, utility installation, and mechanical, electrical, and plumbing work. Construction is planned to begin later this year and the plant should become fully operational in 2007, although some operations will begin in 2004. Lilly is expected to employ more than 700 highly skilled employees to operate the facility. New jobs to be created include positions for scientists, quality professionals, engineers, manufacturing operations, and support staff.

The state of Virginia offered a generous incentive package including a $2.25 million grant from the Governor's Opportunity Fund to assist Prince William County with site preparation, $2 million from Prince William County's Economic Development Opportunity Fund, a $3-million performance-based grant from the Virginia Investment Partnership, and $300,000 from the Virginia Department of Transportation to assist with road access funding.