Governor Mike Braun announced the sale of the former GM Stamping Plant property in Indianapolis to Elanco Animal Health for $27 million on Monday.

The transaction is set to advance the creation of a global innovation district with the State of Indiana as a continuing partner.

The sale transitions the land into private ownership, with Elanco and its partners, including Purdue University, planning to develop an innovation district in downtown Indianapolis.

The State of Indiana will remain actively involved in the site’s future development through the Indiana Office of Commerce.

“This agreement is a responsible step forward,” said Governor Mike Braun. “It places this property in the hands of a company with a clear vision of a world-class innovation district, while ensuring the State of Indiana remains a full partner in what comes next.”

Jeff Simmons, CEO of Elanco Animal Health, stated, “This is about partnership and progress. The State’s willingness to work with us—not as a landowner but as a partner—makes this possible.”

The innovation district will be anchored by Elanco’s global headquarters and is designed to connect research institutes, pilot-scale facilities, diagnostic labs, and animal clinical care with a vibrant community of offices, housing, retail, and green space.

Mung Chiang, President of Purdue University, expressed excitement about the partnership, noting Purdue’s commitment to creating One Health jobs and workforce in the innovation district.

The project aims to create a globally significant destination for innovation, attracting companies, talent, and investment while providing long-term opportunities for Indiana.