Gov. Tony Evers announced Eli Lilly and Co. will be eligible for up to $100 million in state tax credits to boost its $4 billion investment in a Wisconsin manufacturing facility.
According to the Wisconsin Economic Development Corp., the $100 million in incentives are contingent upon the company creating at least 700 jobs and making at least $2.2 billion in capital investments.
The incentive package includes benchmarks for each year over the 12-year life of the enterprise zone with a cap on how many credits can be earned.
The Indianapolis-based company announced in December that it planned a $3 billion expansion of the Kenosha County manufacturing facility it had acquired earlier last year. The company expected to add 750 jobs to the more than 100 already working at the facility.
>> WisPolitics is now on the State Affairs network. Get custom keyword notifications, bill tracking and all WisPolitics content. Get the app or access via desktop.
The guv’s office said the company’s acquisition, expansion and additional purchases of property upped the planned investment to $4 billion.
Evers praised the company’s “historic investment in our communities” as “great news for Wisconsin.”
Meanwhile, Lilly Executive Vice President Edgardo Hernandez said the company appreciates the partnership and leadership from the guv, WEDC, local officials and others.
“We look forward to contributing to the region’s strong legacy of innovation and economic vitality for years to come,” said Hernandez, who’s also president of the company’s manufacturing operations.
