Pharmaceuticals giant Lilly plans to expand its operations into Research Triangle Park.
Lilly will be receiving $5m from Durham County to help with the expansion. The company had already broken ground on a $1.7 billion facility in RTP back in 2020. The Research Triangle Park is the country’s largest research park and it extends into parts of Raleigh and Chapel Hill. Lilly will use the facility to start producing a pair of drugs called Trulicity and Tirzepatide, both of which are used to treat diabetes. The facility, which may carry the company’s Logo Design, could start production this year once the FDA has completed its inspections.
According to Lilly, the company will invest almost $500m, provide another 100 jobs in the area, and boost property tax collection by $10m as its five-year expansion plan rolls out. The $5m in investment promised by the county will be paid in 2030 and depends on whether the company will be able to meet the job creation and tax boost promises it has made.
The pharmaceutical company will also be making efforts to work closely with local institutions and hold events such as job fairs to help with workforce development. Students at local universities will be able to take advantage of apprenticeship programs funded by Lilly and taught at community colleges in the area.
Get a Free Quote for Logo Design
