EXCLUSIVE: Eli Lilly to invest a total $50 billion in America

THE LOWDOWN:

• American pharmaceutical giant Eli Lilly announced a grand total $50 billion investment in the U.S., the Reporter has exclusively learned.

• The firm will make the announcement alongside top Republicans on Wednesday, per an invitation obtained by the Washington Reporter.

• The new spending includes a $27 billion investment on top of Eli Lilly’s $23 billion invested since the enactment of the 2017 Tax Cuts and Jobs Act.

• Joining Eli Lilly at the announcement are Commerce Secretary Howard Lutnick, National Economic Council Director Kevin Hassett, Sen. Todd Young (R., Ind.), Lilly CEO David Ricks, and others.

• One source familiar with the event told the Reporter that Eli Lilly will thank President Donald Trump and his economic policies, such as his signature tax cuts, for making the ground-breaking investment possible.

Eli Lilly and Company, the American pharmaceutical giant, is making a grand total $50 billion investment in the United States and hiring thousands of people with high paying jobs. The firm will make the announcement alongside top Republicans this morning, per an invitation obtained by the Washington Reporter.

This investment will include the establishment of four new manufacturing sites in the U.S., including in Indiana and North Carolina, allowing Eli Lilly to further protect America’s bio pharma supply chain.

Joining Eli Lilly at the announcement are Commerce Secretary Howard Lutnick, National Economic Council Director Kevin Hassett, Sen. Todd Young (R., Ind.), and others. Eli Lilly’s CEO, David Ricks, will attend the event announcing the investment in America as well as the high-paying jobs that come with it. Ricks also met with President Trump at The White House last week.

“I couldn’t be prouder that Lilly is expanding facilities in the U.S.,” Sen. Jim Banks (R., Ind.) told the Reporter. “These new investments will create good jobs and make our supply chains more secure.”

Fellow Indiana GOP Senator Todd Young told the Reporter that “Lilly has long been a driver of economic growth and innovation in Indiana” and that “we are grateful for this further investment in America and our workers.”

“Lilly is continuously striving to improve the lives for people everywhere, and today we celebrate the transformative impact of this announcement,” Young said.

Eli Lilly is based in the senators’ home state of Indiana.

One source familiar with the event told the Reporter that Eli Lilly will thank President Donald Trump and his economic policies — such as his signature 2017 tax cuts — for making the ground-breaking investment possible.

In recent weeks, corporations like Apple have joined Eli Lilly in investing billions of dollars in America. These investments come amid the Trump administration’s push to increase economic opportunity in America, such as through expanding the successful Opportunity Zones program.