Indiana Governor Mike Braun has announced the sale of the former GM Stamping Plant site in downtown Indianapolis to Elanco Animal Health for $27 million. The agreement shifts the state-owned land to private ownership and sets the stage for an innovation district anchored by Elanco’s global headquarters. The Indiana Office of Commerce will continue to support the project as an active partner.

The development will bring together research institutes, diagnostic labs, pilot-scale facilities, and animal clinical care alongside offices, housing, retail, and green space. Braun called the agreement “a responsible step forward,” saying it will create jobs, attract talent, and drive long-term growth for Indiana.

Elanco CEO Jeff Simmons said the purchase provides certainty and speed. “The State’s willingness to work with us—not as a landowner but as a partner—makes this possible,” he said. Elanco plans to move into its new headquarters in the Valley Neighborhood in early October, calling it the first of many milestones for the district.

Purdue University will join as a key partner, with President Mung Chiang noting Purdue’s expertise in animal, plant, and human health. He said the project will help create “One Health” jobs and workforce opportunities while accelerating Purdue’s growth in Indianapolis.