Governor Jenniffer A. González Colón, along with Sebastián Negrón Reichard, the Economic Development and Commerce Secretary, has announced that Eli Lilly and Company, also known as Lilly, is going to invest over $1.2bn to modernize Puerto Rico operations. This happens to represent one of the largest private-sector investments in the history of the island and also the most significant expansion announced under the current administration.
The new investment is going to upgrade and expand the pharma giant’s two major facilities. The first phase happens to involve transforming the PR01 plant of the company that was originally built in 1968 into an oral solid dose manufacturing site that’s state-of-the-art. Besides this, the PR05 plant, which is dedicated to insulin production, will undergo expansion so as to increase manufacturing capacity and also integrate cutting-edge pharmaceutical technologies. The initiative also happens to include major investments when we talk of energy integration as well as sustainability, including the likes of a 9 MW cogeneration unit and also a 2 MW solar field, which together are going to meet almost 85% of the energy demand of the facility by way of cleaner as well as more efficient sources.
Governor González Colón has gone on to stress that this announcement goes on to mark a defining moment for the industrial transformation of Puerto Rico and also for the public policy rolled out by the government, which is aimed at strengthening the advanced manufacturing base.
According to the governor, this announcement goes on to reflect the essence of their public policy, which emphasizes positioning Puerto Rico as one of the strategic hubs for advanced manufacturing and innovation as well as national economic security. The fact is that Eli Lilly’s historic investment of $1.2bn to modernize Puerto Rico operations happens to be a powerful vote of confidence in the people, infrastructure, and also the long-term competitiveness within the U.S. supply chain.
It goes on to demonstrate that global companies can consistently continue to grow and thrive in the country, while Puerto Rico goes on to contribute in a much more meaningful way towards the resilience of the most critical industries of the nation, added González Colón. The expansion is going to create 1,100 new jobs throughout the construction and operations phases, besides the multiplier effect of indirect as well as induced jobs in areas like utilities, maintenance, logistics, construction, and also professional services. Over 1,000 high-skilled jobs at present in place are also going to be retained, while continuing to advance development of talent that Puerto Rico offers, especially in the fields of advanced manufacturing as well as biotechnology.
As per Secretary Negrón Reichard, the project goes on to represent not just a milestone for the company, but it also happens to be a symbol of endurance as well as shared progress between Lilly and Puerto Rico.
Sebastián Negrón Reichard says that Eli Lilly’s decision to go ahead and expand in Puerto Rico goes on to cement a partnership that has endured for almost six decades and also reflects the industrial evolution of the island nation. Due to this historic investment, Puerto Rico indeed demonstrates its capacity to go ahead and attract world-class capital, it also strengthens the security of the U.S. pharmaceutical supply chain, and at the same time, it goes on to position the island as a strategic hub in the $50 billion U.S. manufacturing expansion commitment by Lilly. With time, Lilly has invested over $2 billion in the industrial infrastructure of Puerto Rico and at present happens to employ almost 1,000 people, having an annual payroll of almost $109 million, besides supporting innumerable local suppliers. This new investment goes on to represent not just the continued confidence of the company in their talent and institutions, but also the success of their efforts so as to bring advanced manufacturing again under the U.S. jurisdiction through Puerto Rico.
The Chief Executive Officer of Invest Puerto Rico, Ella Woger-Nieves, stressed the fact that Lilly’s expansion happens to reinforce the reputation of the island as a trusted as well as a capable manufacturing destination for the leading pharmaceutical companies of the world.
Woger-Nieves opines that the expansion of Eli Lilly in Puerto Rico goes on to reaffirm the confidence that the top pharmaceutical companies of the world go on to place in their island’s capacity to drive innovation, quality, and also, along with it, operational resilience. This announcement indeed happens to validate the role of Puerto Rico as a strategic pillar for the U.S. pharmaceutical industry and at the same time also highlights their commitment to go ahead and strengthen the biosciences sector and at the same time create high-value jobs.
It is well to be noted that Lilly has operated in Puerto Rico for more than 60 years and hence has become one of the very first multinational pharmaceutical companies to go ahead and establish operations on the island and a cornerstone in terms of the development of its modern industrial spectrum. The local facilities of the company manufacture medicines that are used in oncology and diabetes, as well as pain management treatments that get distributed across the world.
The fact is that for Lilly, this sort of expansion goes on to represent the continuation of a long-standing collaboration with the people and government as well as academic institutions of Puerto Rico.
According to the Executive Vice President and President of Lilly Manufacturing Operations, Edgardo Hernández, they are indeed grateful for the years of support that they have received from the government of Puerto Rico and also from the industrial and academic ecosystem of the island. This collaboration not just goes on to make their manufacturing operations robust, but it also helps the local economy and, of course, everyone living here. Together, they are indeed helping create a much brighter future for Puerto Rico by way of innovation and investment, as well as opportunities for their people to thrive, Edgardo added.
