On Friday, Governor Josh Shapiro visited the Da Vinci Science Center in Allentown to announce a historic investment in the state. Eli Lilly and Company, recognized as the first healthcare company to reach a $1 trillion market valuation, plans to build a state-of-the-art pharmaceutical manufacturing facility in Lehigh County.
The $3.5 billion investment by Lilly is the largest by a life sciences company, and the third largest economic development deal overall, in Pennsylvania history.
“Eli Lilly and Company is one of the biggest pharmaceutical companies in the entire world. They could choose to invest anywhere. They chose to plant their flag right here in Pennsylvania.”
The Commonwealth will support Lilly’s investment with $100 million of its own. That will be provided in up to $50 million in tax credits, a $25 million grant from the PA SITES Program, and a $25 million Pennsylvania First grant.
Lilly’s expansion project is expected to create 850 permanent jobs over the next five years just west of Allentown in Fogelsville. That doesn’t include the more-than 2,000 construction jobs that will be involved in the development.
The Shapiro Administration has also committed a Redevelopment Assistance Capital Program award of up to $5 million to a local community college or technical school to aid in workforce development and create a talent pipeline for Lilly.
Pennsylvania beat out several other states for this project. A recent report from Axios determined Pennsylvania is the only Northeastern state with a growing economy. New data from the U.S. Bureau of Labor Statistics ranked the state among the top in the nation for five-year new business survival.
