Fox 59: Is the billion-dollar incentive deal for Eli Lilly a good deal for taxpayers?
“INDIANAPOLIS — It is the most expensive incentive package ever offered by the Indiana Economic Development Corporation (IEDC).
Price tag: just over $1.25 billion.
That’s what Eli Lilly got in return for placing two pharmaceutical manufacturing plants in the IEDC’s Leap District in Boone County…
“The only thing we can honestly say about this is it’s a big transfer of wealth from Indiana taxpayers to Lilly shareholders,” Greg LeRoy, executive director of Good Jobs First, a non-profit organization that monitors state and local economic development deals, told Fox 59.
LeRoy says the Lilly deal fits a recent trend around the county.
“We do see an acceleration nationally of what we call mega-mega-deals, over a billion dollars for individual facilities. There is an interstate war among the states for jobs and investment,” explained LeRoy.
Read the full story at Fox 59.