The state of Indiana sold a chunk of a massive, long-vacant Indianapolis industrial site to Elanco Animal Health for nearly $30 million, Gov. Mike Braun announced Monday.
“This agreement is a responsible step forward. It places this property in the hands of a company with a clear vision of a world-class innovation district, while ensuring the State of Indiana remains a full partner in what comes next,” Braun said. “This is about more than redeveloping land; it’s about creating jobs, attracting talent, and driving long-term growth for Indiana.”
General Motors closed its stamping plant on the White River’s west bank, near downtown, in 2011. After demolition, the sprawling site — which required environmental remediation — lay vacant for years.
The state of Indiana purchased 91 acres in 2022 for $25.5 million. The 56-acre, $27 million sale to Elanco comes at a sizable profit.
Greenfield-based Elanco is building its next global headquarters on a separate 12 acres. Its new land lies to the northwest and south.
“This is about partnership and progress. The State’s willingness to work with us — not as a landowner but as a partner — makes this possible,” Elanco CEO Jeff Simmons said. “Securing this property now gives us the certainty we need to integrate it into our headquarters campus and move forward with speed.”
The company broke ground three years ago. It plans to move into its new digs in early October, per Simmons.
Jeff Simmons (Courtesy Elanco Animal Health)
The sale will “accelerate the creation of” a larger One Health Innovation District anchored by the headquarters, according to the news release. The district is meant to connect research institutes, pilot-scale facilities, diagnostic labs, and animal clinical care with a vibrant community of offices, housing, retail and green space.
“That means jobs, investment, and an accelerated path to creating an innovation district dedicated (to) One Health,” Simmons said. “… Together with Purdue (University) and the State of Indiana, we’re building something that will drive innovation and improve lives for decades to come.”
Purdue President Mung Chiang said the university was “excited” to bring its expertise in animal, plant and human health to the project, and committed to “help(ing) create One Health jobs and workforce.”
“This strategic step will also further accelerate Purdue’s growth in the state’s capital city as part of our main campus across the Hard Tech Corridor between West Lafayette and Indianapolis,” he added.