Keith Mundrick Discusses Eli Lilly's $5.3 Billion Investment in Indiana on the BBC's World Business Report
Overview
Eli Lilly recently announced they are investing $5.3 billion in a manufacturing plant in Lebanon, Indiana. The investment will be used to produce the active pharmaceutical ingredients in its popular weight loss drug, Zepbound, and diabetes treatment, Mounjaro. These two drugs have a huge potential market across America and Eli Lilly will be using the investment to help meet the growing demand. The news has been commended by the United States Secretary of Health and Human Services and the Governor of Indiana.
Locally, the investment is believed to benefit the state’s manufacturing work and create 900 advanced manufacturing jobs. Keith Mundrick joined Devina Gupta, the host of World Business Report, to discuss another aspect of this growth: property prices in the area. Already, according to Keith, “We’ve seen easily a doubling,” when asked about how much real estate prices have gone up because of Eli Lilly’s investment. Keith also discusses the increasing tax assessments for current owners. “That is where the rubber really meets the road and makes affordability a concern for people who were already in the area.”
