The state of Wisconsin is offering up to $100 million in performance-based tax incentives to support pharmaceutical giant Eli Lilly’s $4 billion investment in Kenosha County, Gov. Tony Evers announced Tuesday.
Last year, state and company officials announced that Eli Lilly would spend $3 billion to expand a factory it acquired in Pleasant Prairie. On Tuesday, the governor’s office said the acquisition, expansion and the company’s additional purchases of land and an adjacent warehouse bring Eli Lilly’s total investment up to $4 billion.
The state is supporting the project with up to $100 million in tax credits. The actual amount the company will receive will be linked to meeting job creation and investment targets. The tax credits will be administered by the Wisconsin Economic Development Corp.
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The company expects to add 750 jobs to the current 100-plus workforce at the Kenosha County location.
In a statement, Evers said his administration has worked to support economic growth and expansion in southeast Wisconsin, and he’s proud that leading brands like Eli Lilly have chosen to move and grow their operations there.
“Coupled with our state’s designation as a U.S. Regional Tech Hub, history of game-changing innovations, and world-class manufacturing, Wisconsin is proud to partner with Lilly as they make this historic investment in our communities,” the governor stated. “This is great news for Wisconsin.”
Edgardo Hernandez, president of Eli Lilly’s manufacturing operations, said the company was “grateful for the partnership” it has received from state and local leaders.
He also said the project will allow the company to innovate its manufacturing, build capacity for the “medicines of tomorrow” and create high-quality jobs.
“We look forward to contributing to the region’s strong legacy of innovation and economic vitality for years to come,” Hernandez said in a statement.
In December, Kenosha County Executive Samantha Kerkman told WPR’s “Wisconsin Today” the project was “critical” to the Kenosha County-area. She said the county has added 13,000 jobs over the past decade.
The Milwaukee 7 Regional Economic Partnership welcomed Tuesday’s news about state incentives. In a statement, Milwaukee 7 Executive Rebecca Gries said the regional organization was “thrilled” about Eli Lilly’s investment.
Gries also said the project will have economic “ripple effects across the region” and positions southeast Wisconsin as a “recognized leader and premier destination for biotech and manufacturing innovation.”
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