Evonik to make a multimillion-dollar investment at their Indiana site
While basketball and motor racing may be king in Indiana, drug manufacturing and APIs are making a run for the Hoosier state’s attention.
On Thursday, German chemicals company Evonik announced plans to build a new, global-scale production facility for producing pharmaceutical lipids at their Tippecanoe site in Lafayette, IN. The total investment for the site will amount to $220 million.
According to Evonik, the US government is helping to fund the facility by providing up to $150 million through BARDA. Additional support will also be provided by the Indiana Economic Development Corporation, Greater Lafayette Commerce and Duke Energy. Construction will be set to begin in early 2023, with the plant being scheduled to go live in 2025. The investment also plans to create more than 80 jobs.
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