RICHMOND - Governor Mark R. Warner today announced that Eli Lilly and Company will invest $425 million in a new insulin manufacturing facility in Prince William County. Creating over 700 high-tech jobs, the new 600,000-square-foot facility will formulate, fill and package Humalog® and Humulin®, Lilly’s biotechnology products used worldwide in the treatment of diabetes. Virginia successfully competed with North Carolina and South Carolina for the project. Governor Warner will welcome Sidney Taurel, Chairman, President and CEO of Eli Lilly and Company, at an event on May 8, at 2:00 p.m. in Prince William County.
“Virginia is quickly becoming a magnet for the biopharmaceutical industry, and will serve as an ideal location for Lilly’s insulin manufacturing facility,” said Governor Warner. “The company’s investment of $425 million places it in the top 10 largest economic development investments in the state’s history. Lilly’s innovative work will help improve the lives of Virginians and people around the world and I look forward to partnering with this highly-respected company.”
Lilly, a leading innovation-driven corporation, is developing a growing portfolio of best-in-class pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Indiana, Lilly provides answers – through medicines and information – for some of the world's most urgent medical needs.
The new Prince William County facility will allow Lilly to diversify its current insulin manufacturing locations, while providing additional manufacturing capacity for both existing and potential diabetes products. Project construction is anticipated to begin later this year with the expectation that initial operations will commence in 2004 and that the facility will become fully operational in 2007. Over the construction period, Lilly will hire 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.
“We felt it was important to geographically diversify our insulin manufacturing sites,” said Sidney Taurel, Chairman, President and CEO of Eli Lilly and Company. “As we reviewed possible locations, we concluded that Prince William County, Virginia offered the best trade-off between cost of operations, quality of life, and the ability to attract and retain a skilled work force.”
Governor Warner personally met with Lilly executives during the competitive site selection process. He approved a $2.25 million grant from the Governor’s Opportunity Fund to assist Prince William County with site preparation. Lilly qualified to receive a $3 million performance-based grant from the Virginia Investment Partnership, a program available to existing Virginia firms. The Virginia Economic Development Partnership managed the project and the Prince William County Department of Economic Development assisted Lilly with its decision. The Virginia Department of Business Assistance will provide workforce training services. The Virginia Department of Transportation will assist with road access funding.
“Prince William County enthusiastically welcomes Lilly and is honored to be the location of choice for this new facility," said Board of County Supervisors Chairman Sean T. Connaughton. “Lilly’s announcement is a reaffirmation of something known locally and is now gaining national and international recognition – that Prince William County is a premier business location.”