Manufacturers across the country are seeing the benefits of tax reform and an accelerating economy, creating jobs and constructing new facilities to meet robust demand. Tax reform is helping manufacturers become more competitive while sparking an unprecedented wave of investment back into the United States.
The latest tax reform win comes from Indiana, where pharmaceutical manufacturer Eli Lilly and Co. recently opened a new $75 million research facility in Indianapolis. The company’s CEO credited tax reform and other pro-growth policies that helped make it possible.
“Congress and this (presidential) administration have enhanced our ability to acquire and develop U.S.-born innovation,” Dave Ricks, chairman and CEO of Lilly, said in a statement. “The tax reforms they’ve adopted place U.S. companies like Lilly on a level playing field with our global peers.”
According to the Indianapolis Star:
Eli Lilly and Co. officially opened a new $75 million research facility on Friday that it says will make it more nimble in developing new drugs and bringing them to market.
Building 302, located Downtown just off Kentucky Avenue, has the capability to have lab spaces inserted and removed as needed. With laboratory wiring and piping hoisted into the ceiling, researchers can easily detach equipment and reconfigure space for new research.
This allows the facility to recycle itself, rather than require the company to build more space every time the pharmaceutical industry trends toward newer forms of drug production.
Dave Ricks, chairman and CEO of Lilly, praised several entitles for making the creation of the facility possible, including the city of Indianapolis, Lilly employees and legislation enacted under President Donald Trump.
Instead of taking six months to a year to shift production focus in the facility, the “nimble” facility will allow Lilly to shift production in about a week. The company is looking to build similar laboratories in the future so that their “drug portfolio isn’t bound by spacial limitations.”
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