Eli Lilly and Co. received final approval for property tax abatement on a $90 million investment it’s making at its technology center in downtown Indianapolis. On the most recent (i) on Economic Development, Tim Cook and Katie Culp sat down with Gerry Dick to discuss whether providing incentives for this type of project is good public policy.
Although Cook and Culp understand the criticism surrounding the decision to provide incentives to the pharma giant, they believe it was the right move.
“There wasn’t a lot of job creation, but it was totally appropriate to support our largest employer. [Lilly] is a huge corporate asset to our community,” notes Culp.
Cook adds in agreement, “While abatements are typically offered for the creation of new jobs, this was a matter of job retention. Lilly has committed to being here. They’ve committed not to selling the company. They could invest anywhere in the world.”
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