Weight-loss drugmaker Eli Lilly has announced an ambitious plan to build a $3.5 billion manufacturing complex in the heart of Pennsylvania’s Lehigh Valley — and real estate experts are predicting that the investment could easily reshape the region’s housing market.
The Indiana-based pharmaceutical company, which makes the weight management treatment Zepbound and the diabetes medication Mounjaro, announced in a news release that it will build the 925,000-square-foot complex just outside Allentown, Pennsylvania.
The site was selected from more than 300 applications, the company noted in the release, partly based on its proximity to STEM universities, its technical manufacturing economy, and its existing infrastructure. In addition, with increasing demand from the biotech industry, the region offers convenient access to utilities, transportation, and favorable zoning and incentives…