Sale of former GM stamping plant property to Elanco for $27M

Indiana Governor Mike Braun announced the sale of the state-owned land at the former GM Stamping Plant site to Elanco Animal Health for $27 million.

The agreement enables Elanco and its partners, including Purdue University, to accelerate the creation of an innovation district in downtown Indianapolis. 

With this sale, the land transitions into private ownership, while the State continues as an active partner supporting the site’s future development through the Indiana Office of Commerce. 

Statement from Governor Mike Braun: 
“This agreement is a responsible step forward. It places this property in the hands of a company with a clear vision of a world-class innovation district, while ensuring the State of Indiana remains a full partner in what comes next.  This is about more than redeveloping land; it’s about creating jobs, attracting talent, and driving long-term growth for Indiana.” 

Anchored by Elanco’s global headquarters, the district will intentionally connect research institutes, pilot-scale facilities, diagnostic labs, and animal clinical care with a vibrant community of offices, housing, retail and green space.  

The result will be a globally significant destination for innovation, designed to attract companies, talent and investment while creating long-term opportunities for Indiana. 

Jeff Simmons, CEO of Elanco Animal Health: 
“This is about partnership and progress. The State’s willingness to work with us—not as a landowner but as a partner—makes this possible. Securing this property now gives us the certainty we need to integrate it into our headquarters campus and move forward with speed. That means jobs, investment, and an accelerated path to creating an innovation district dedicated One Health. In the near-term, we’re excited to join the Valley Neighborhood with our move to our new global headquarters in early October. We see it as the first of many big moments for the District. Together with Purdue and the State of Indiana, we’re building something that will drive innovation and improve lives for decades to come.” 
 
Mung Chiang, President, Purdue University: 
“Purdue is excited to be a partner in the Elanco headquarters campus with our expertise in animal, plant and human health, and is committed to help create One Health jobs and workforce in this Innovation District for the State of Indiana. This strategic step will also further accelerate Purdue’s growth in the state’s capital city as part of our main campus across the Hard Tech Corridor between West Lafayette and Indianapolis.” 

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