Eli Lilly and Company will invest over $470 million and create more than 460 new jobs in Durham. The project will bring a new pharmaceutical manufacturing facility to North Carolina'sResearch Triangle Park. Lilly, with headquarters in Indianapolis, Indiana, has a long heritage in discovering and making medicines. This new manufacturing site will produces parenteral (or injectable) products and delivery devices. To operate the site, Lilly will create more than 400 jobs in highly skilled positions such as scientists, engineers, quality professionals and manufacturing operations. Lilly currently has seven manufacturing sites located in the United States in Indiana, New Jersey and Puerto Rico. Lilly's project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state's Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state's economy by $4.1 billion. Using a formula that takes into account the new tax revenues generated by the 462 new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $8,689,500, spread over 12 years. The company's JDIG agreement lists its investment target as $474 million. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant's reimbursement payments to a given company.