INDIANAPOLIS — Elanco Animal Health, which has been associated with Greenfield, Ind., since the days it was a subsidiary of Eli Lilly and Co., announced last Friday that it would build a new world headquarters on the west side of Indianapolis. Elanco’s new site will be at the former GM stamping plant, just south of the Indianapolis Zoo. The GM stamping plant is on 91 acres and has stood vacant since 2011. Elanco’s Greenfield campus, built a decade ago will be vacated.

In 2018 Elanco separated from Eli Lilly & Co., with which it had been associated for decades. During much of that time, Elanco was based at the company’s Greenfield laboratories on West Main Street, where Covance now operates.

Elanco, which produces animal vaccines, said it had been eyeing the site along the White River for years. The company said it would spend $100 million on the complex and it is expected to take two to three years to complete.

In August, Elanco acquired Bayer Animal Health business unit for $6.89 billion in a cash-stock deal. The company has said in news releases that the acquisition expanded its scale and capabilities, allowing it to become a major player in the animal health industry.

The Indianapolis Business Journal reported that the state will provide up to $73 million in conditional tax credits over a 10-year period for the project. The Indiana Economic Development Corp. is also providing up to $4 million in training grants based on the company’s commitment to retain 1,623 Hoosier jobs and create up to 573 new, high-wage jobs.

“It is gratifying to return to our roots in Indianapolis, where we started a subsidiary of Eli Lilly & Company in 1954, to continue the acceleration of our innovation agenda and provide promising careers to talented Hoosiers while attracting top global talent to the state,” said Jeff Simmons, Elanco’s CEO. “With a shared vision for the future of the agbioscience industry and the modern, post-COVID era workplace in Indiana, we are pleased Elanco can serve as a catalyst through our global headquarters and base of future consolidated operations and capabilities in Indiana. In partnership with Governor Holcomb, Mayor Hogsett and the IEDC (Indiana Economic Development Corp.), we look forward to continuing our nearly 70-year history in Indiana, building a leading animal health company and serving the Indianapolis community.

 “Additionally, we are grateful for the community support we have received in our current home in Greenfield. We look forward to working with the state to find a future tenant for that site.”

Elanco said the new campus will be a smaller, more flexible concept, suitable for a post-COVID society. The plan is to have a more sustainable office, with 25 percent less office space than the current headquarters.

“For decades, the GM stamping plant served as an anchor for near westside Indianapolis families,” Indianapolis Mayor Joe Hogsett said in a press release. “When the facility closed, residents mourned the loss, not just because of the economic impact, but out of concern for the long-term vibrancy of the community. Today’s announcement will mark a new chapter for the neighborhood, spurring greater connectivity beyond the Mile Square and catalyzing transformative development opportunities along the White River and beyond”

Elanco intends to retain its manufacturing centers in Clinton, Indianapolis and Terre Haute, state officials said. It plans to center its research and development activity in the state to support its continued growth. The state will work with Elanco and the city of Greenfield to ensure that new opportunities will replace the jobs moving to Indianapolis.

Colleen Dekker, a spokeswoman for Elanco, said in an email that the company is committed to helping Greenfield move forward.

“We’ll be working with state and local leaders over the next few years to find a new tenant for our Greenfield campus,” she said. “Ensuring a smooth transition is very important to us.”

In a press release, Indiana Gov. Eric J. Holcomb said “Elanco is an important asset to Indiana, a leader in our growing agbioscience sector, which is poised to grow and continue innovating. We are thrilled with the direction of Elanco’s future and the transformational impact its growth will have on the agbioscience sector, the downtown Indianapolis footprint, and most importantly, the lives of Hoosier workers.”