Indiana Agbioscience Industry Optimistic For Future With Elanco HQ Announcement
Industry leaders are applauding Elanco’s decision to keep its global headquarters in Indiana. Some hope the company’s commitment to stay in Indiana sends a message that the Hoosier State can compete at attracting companies of all sizes to locate and stay long term.
In 2018, Indiana’s agbioscience industry brought in more than $50 billion, according to a study published by AgriNovus. Of that, $4 billion was from animal health.
The recently announced global headquarters will consolidate Elanco’s operations from around the world to the westside of Indianapolis.
Mitch Frazier is the CEO of AgriNovus, a nonprofit that works to grow the agbioscience industry in the state through supporting businesses and talent. He said the company’s work and recent acquisition of Bayer Animal Health has proven its value during COVID-19 in livestock and companion animal health.
“We look at the food supply chain that we all saw disrupted during the height of the pandemic back this spring. And we look at the mental health strength around companion animals and the role that companion animals play in mental health,” Frazier said. “Elanco is incredibly well positioned for continued growth with this announcement and beyond.”
Frazier said he believes the new headquarters will be a magnet drawing in other animal health companies to the state.
“I think this is an opportunity for Indiana to really demonstrate its strength in the ability to create a platform for great global companies like Elanco to grow and thrive here,” he said. “By creating connections to academia, creating connections to government and to nonprofits like Agra Novus, this is a really unique spot for Indiana to demonstrate its strength.”
The decision is expected to create opportunities for additional growth in the state’s animal life sciences.
Elanco spun off from Eli Lilly in 2018 and is now the world’s second largest independent animal health company.
Logan Jordan, Purdue University Krannert School of Management associate dean, said Elanco’s research and development could lead to the creation of even more companies.
“And these firms of this size, spin off things and possibilities in your region,” said Jordan. “I mean, they can become incubators themselves, and new startups kind of follow or fall around them.”
Jordan said Elanco’s headquarters will also attract students interested in animal health from universities across the region.
Contact reporter Samantha at shorton@wfyi.org or follow her on Twitter at @SamHorton5.
