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David Ricks
Chairman, Chief Executive Officer & President, Eli Lilly

Pennsylvania Gov. Josh Shapiro Joins Eli Lilly To Announce $3.5 Billion Investment In Lehigh County

📅 Jan 30, 2026 Forbes Breaking News 35 MIN 1888 VIEWS 20 SEGMENTS · 7 SPEAKERS
On Friday, Gov. Josh Shapiro (D-PA) joined Eli Lilly to announce a $3.5 billion investment in Lehigh County. Stay Connected Forbes Breaking News on X: https://x.com/ForbesTVNews Forbes Breaking News on TikTok:   / forbestvnews   More From Forbes: http://forbes.com
Josh Shapiro 0:00 ↗
Good morning. It is a good morning here in the valley and I want to just say thank you to all of you for being here. This is a big day and I believe this is a day that can change the economic trajectory of this region and create so much opportunity for folks living here in the Commonwealth of Pennsylvania. And you just witnessed with that video some examples of how lives can be changed for those who work both inside the buildings of Lilly and those who are impacted on the outside. Eli Lilly and Company is one of the biggest pharmaceutical companies in the entire world and they are a pride of this nation. They could choose to invest anywhere in this country and across the globe, but they chose to plant their flag right here in Pennsylvania to invest over $3.5 billion to build this new state-of-the-art manufacturing facility right here in Pennsylvania and right here in the Lehigh Valley. That's a big deal. [applause]
That investment is going to create 2,000 construction jobs under Paul's great leadership and have 850 permanent jobs when the construction is done in the life sciences field. That's nearly 3,000 Pennsylvanians will be able to put food on the table for their family, go to the mountains during the summer, have a moment where they can settle down at the kitchen table as parents, and know that they can provide for their children. That's life-changing stuff. Thanks to Lilly's investment here in Pennsylvania, I couldn't be more proud of the fact that our administration has been able to secure the biggest life sciences investment in our Commonwealth's history and the largest investment ever in the Lehigh Valley. [applause]
I think it's proof that what we're doing is working and it's showing results. Pennsylvania is competing again and we're winning. I want to take a moment to thank Secretary Rick Siger and his team at the Department of Community and Economic Development for their incredible leadership over the last nearly two years. [applause] Secretary Siger and the impressive business PA team have led our push to get Lilly to come here to the Lehigh Valley. We were incredibly aggressive. Dave knows this. We refuse to take no for an answer. I want to take a moment and speak about Dave Ricks and his leadership. Understand that he is one of America's top CEOs with an extraordinary demand on his time, his attention, and his company's investment. I want to thank Dave Ricks for his thoughtful, focused, and dedicated approach to growing Lilly in the United States of America. [applause]
And after making that commitment to the United States, Dave Ricks and his team at Lilly bet on the Commonwealth of Pennsylvania, as you heard from over 300 applications, and they picked the Commonwealth of Pennsylvania. I want you to know your company's future is bright and we are proud that it is linked here to us in the Commonwealth and we are grateful for your leadership and your confidence in us, Dave. Thank you. [applause]
And if I'm being perfectly honest, Pennsylvania actually lost out on one of the last deals that Eli Lilly was considering about six months ago. But as soon as we got the news, Secretary Siger and I immediately got back on the phone with Dave and his wonderful team at Lilly to talk about how we had something to offer for their next investment to learn of what they needed and to better position ourselves for our future. They listened and we are grateful for that. They believed in what we had to offer here in the Commonwealth and we are grateful for that. And in the end, I would argue we landed an even better deal for the Lehigh Valley. We sold them on the rich tradition of manufacturing and innovation here in the Commonwealth. The rich tradition that Dave spoke about in his opening comments and the strength of this region in particular to help open up Lilly's next chapter. I want to thank leaders like Don Cunningham who worked to bring all of the players together time and time again. [applause]
And I want to say a special mention. I'm someone who believes we all have to work together. Our federal partners like Senator McCormick who was integral in this process, obviously our state partners, but our local partners as well. And Don, you did an outstanding job of bringing the folks from Upper Macungie and everywhere else together to make this happen. So, we truly appreciate that. [applause]
We know that in addition to that strong collaborative environment, we also have extraordinary strength in our workforce and in the pipeline of talent that we know runs right through our community colleges and our union halls here in the valley. We sold the Lilly team on our ability to move quickly and to deliver speed to market. And I want to say a special thanks to Ben Kirshner who leads our office of transformation and opportunity. Together with David Wade, you showed that here in Pennsylvania, we are the fastest around and we are grateful for you. And I know time is money to Lilly and they're going to have to spend a whole lot less time waiting for permits and waiting for action. Already Ben and his team are working with Lilly to ensure our permitting process moves quickly and we are ready to deliver months ahead of schedule. I'm grateful for the important work done not just by Secretary Siger, our leader on economic development, but we were all in as a cabinet in making sure this day came about. And to that end, let me thank the head of our Department of Revenue and a stranger to no one in this room, Secretary Pat Browne, the Secretary of the Department of Revenue. Thank you.
And of course, we're proud of the fact that this isn't just any old economic development project. This is one in the life sciences field that's going to make people healthier. And to that end, we were privileged to have Secretary Dr. Val Arkoosh from the Department of Human Services at the table helping us make this happen. Thank you, Madam Secretary. And you know what? To Dave's credit, even after we didn't get that first deal, he and his team stayed at the table with us because they recognized what Pennsylvania and the Valley have to offer to a company like Lilly. Our Commonwealth is committed to Lilly's success here. We look forward to supporting your growth in this community for years to come. I want you to know the Commonwealth of Pennsylvania is committing $100 million to make this $3.5 billion project work. That includes $25 million in funding from the PA Sites initiative, a new program stood up by my administration to help develop industrial sites and land big deals just like this one. I want to take a moment to thank the members of the general assembly who were here who voted to fund the PA Sites initiative with an initial half billion dollars. It's important that you know who they are, the members of the legislature, particularly from your community that stood up to make this possible. I want to thank Senator Miller and Senator Boscola, Senator Ferry, Representative Schweyer and Representative Schlossberg who join us today who voted affirmatively for the funding that came for this project. We thank you very, very much.
As part of this package the Commonwealth is putting forward, Lilly will also become the first company in our Commonwealth to qualify for the PA Edge tax credit. Lilly's investment here is proof that PA Edge is a powerful incentive for economic development. And next week, I'll propose expanding that powerful tool in my budget. But the bottom line is after not even being on the field for years, Pennsylvania is not only back on the playing field, we are winning big deals as we compete with the other states in our country. [applause]
We did this by putting the right people in place, leaders like Secretary Siger and Ben Kirshner. We brought Republicans and Democrats together in a divided legislature to invest over a half billion dollars into economic development. We worked aggressively to reform our permitting process and speed up government, going from the bottom of the pack in the country to now being a national model. We cut taxes and we developed a plan creating the first comprehensive economic development strategy for Pennsylvania in two decades. And in that plan, we put an emphasis on life sciences as one of our five pillars of economic opportunity for the future because we believe this is an area where we are poised for explosive innovation and growth. With Lilly helping us lead the way and with the momentum from today's announcement, I'm confident that we're going to continue to see and supercharge this industry right here in the Commonwealth of Pennsylvania. Think about it. We're already home to world-class universities and research institutions like Penn and Pitt and Penn State. Taken together, our colleges and universities rank fourth in the nation in life sciences R&D spending. On top of that, over 100,000 Pennsylvanians work in the life sciences industries, including global leaders like Jeff Morazzo, who joined us today. Half of all vaccines produced in the United States are produced right here in the Commonwealth of Pennsylvania. And with Lilly's announcement, we will continue to lead as a manufacturing hub for cutting-edge medicines, including the ones that will be made right here in Lehigh County. I owe much to the happiness of our new county executive, Josh Siegel. And as today's event proves, this growth isn't just limited to Philly or Pittsburgh. Last year, we announced that B. Braun, a medical device company, is investing $20 million right here in its Allentown facility. Two years ago, we announced our economic development strategy. After we announced our economic development strategy, OraSure's facility in Bethlehem expanded their operations. Life Sciences is growing here in the valley and we are excited now to have Lilly leading the way. I am confident that Dave Ricks and his team will find a lot of support here and a wonderful ecosystem here in the Lehigh Valley and help take our commonwealth to even higher heights because when we invest in a company like Lilly, it has positive downstream impacts. As that video showed earlier, it means more opportunity for our researchers, our scientists, our members of the Pennsylvania building trades, all of the people working together to build the facilities and build out these life-saving cures to allow people to live happier and healthier lives. It means more hope for families who are worried about a loved one. And it means more jobs and economic opportunity for the good people of Pennsylvania. So Dave, thank you for taking my calls and texts and letting me be a nag. Thank you for believing in the Commonwealth of Pennsylvania. Thank you for betting on our future. And thank you for being the premier company here in the Lehigh Valley. We are grateful to you and we are grateful to the Lilly team. Great days are ahead for the Commonwealth of Pennsylvania. We are on the rise and today is yet another example of that rise. Thank you all very, very much. [applause]
Don Cunningham 13:02 ↗
Please welcome Don Cunningham, president and CEO, Lehigh Valley Economic Development Corporation. [applause and music]
Thank you, Mr. Ricks. I'm honored to welcome you and all the folks from Eli Lilly and Company to the Lehigh Valley. Please don't let the temperature outside misrepresent the warmth with which we welcome you here. Thank you for your investment, for your belief in Pennsylvania and your commitment to our little corner of the Keystone State. The Lehigh Valley will not let you down. Today at noon, we will officially welcome you with 'Welcome to the Lehigh Valley Eli Lilly' billboards that will be up on Route 22. So when you ride back to the airport, you'll see your logo and your sign. Welcome you to the Lehigh Valley. [applause]
Governor Shapiro, DCED Secretary Rick Siger, Ben Kirshner, and all of your fabulous team members. Thank you. Thank you for your leadership, for your understanding of what it takes to grow a state's economy, for the hard work, the smart investment, and the attention to detail that it takes to compete and win high-value companies like Lilly. The governor told me at his inauguration that he doesn't like to lose, that he's committed to getting stuff done. You meant it, my friend. Thank you very much. [applause]
Here in the Lehigh Valley, we were often a little bit on our own, a little engine that could, working to rebuild our economy in the shadows of the great cities of Philadelphia and Pittsburgh. But those days are over. And thank you, Governor. Thank you, your team, for making it that way for all of us here. Today, Mr. Ricks announced the largest single investment in our Lehigh Valley history. $3.5 billion and 850 jobs. There's been nothing comparable since the days of Bethlehem Steel, which grew slowly over a century when our workers produced the steel for America's skylines and bridges and the armaments to help win two world wars. Today, Eli Lilly and Company write the first page of a new chapter, the era of life sciences in the Lehigh Valley's proud history of making things in America. I'm very fortunate to lead the Lehigh Valley Economic Development Corporation, a large coalition of private and public partners, large employers, manufacturers, educational institutions, regional organizations, Lehigh and Northampton counties, 62 municipalities and the great cities of Allentown, Bethlehem, and Easton. Our organization started 30 years ago during tough economic times by our private sector leaders to create a strategy and regional partnership for economic rebirth. Today, the Lehigh Valley's $56 billion economy is larger than that of three US states. Our population growth, particularly of young people, is a leader in Pennsylvania and the Northeast. Manufacturing once again is the largest part of our economy with 700 manufacturers pumping out $9 billion a year in GDP. Today that punch gets much stronger. We add major pharmaceutical production to our growing life sciences sector in the region. It took numerous key partners working behind the scenes as the governor said in a multi-year process with no assurance that we would win. Racking up thousands of collective staff hours of work were David Chandel who owns the land and his great team of family members, engineers, lawyers and staff. Upper Macungie Township led by manager Bob Ibach. Lehigh Carbon Community College led by President Anne Bieber and her team. PPL Electric Utilities, UGI Gas, LCA Water and Sewer Authority, the Parkland School District, Lehigh County, and a fabulous group, if I may say so, at LVEDC, led by Jarrett Wit, Kerianne Galinus, and Kristen Caha Hoffman. I also want to thank Jay Biggins of Biggins, Lacy, and Shapiro who helped Lilly find us and work through the process. And I want to recognize the governor pointed out Revenue Secretary Pat Browne and his work. When Pat was a state senator, he was the one who got the new interchange off I-78 on the TIP plan along with Matt Moore. Thank you Pat. That's an important piece of infrastructure for which we wouldn't have landed this project. So combined with the state, it was a dream team of people committed to making it happen. Victory truly had a lot of fathers and mothers. So in the end, however, only the state can deliver it and Governor Josh Shapiro and his excellent team did just that. So let me conclude where I began. Thank you, Governor, for your leadership, your commitment and partnership. And thank you, Mr. Ricks and your entire team at Lilly for your innovative company, your amazing pharmaceuticals, and your confidence and investment in the Lehigh Valley. We are honored to become a Lilly community and to help make great medicines for the entire world. So, let this new chapter in our history begin. Thank you. [applause]
Josh Siegel 19:22 ↗
Please welcome Josh Siegel, County Executive, Lehigh County. Well, I got to say this is my 25th day in office as county executive. So, Governor, you've set the bar very, very high for me for the future. I don't know that we'll ever quite achieve this level of history. But I want to start by thanking Mr. Ricks and Eli Lilly and Company for this truly once in a generation investment in the Lehigh Valley. Three and a half billion dollars, 850 permanent jobs, and 2,000 incredible union construction jobs. And look, I'm honored to be here today. If you go outside this room and you look at that wall, it is a testament to the Lehigh Valley's heritage and history of manufacturing, both past and present. And with the Eli Lilly and Company, you now become part of that future. And look, we're proud of our heritage here in the Lehigh Valley, our industrial heritage and our manufacturing heritage. As Don indicated, our steel plants smelted the metal that built this nation's skylines and the battleships that helped fight for freedom overseas in two world wars. Our silk mills here in the Lehigh Valley were once the second largest producer of silk across the globe. And today we have brands in the Lehigh Valley that are indispensable and iconic to our identity and our history. Martin Guitar, Crayola, Mack Trucks, Olympus, internationally renowned brands that we hold up with pride. And I'm proud to say that Eli Lilly and Company will now be amongst those brands and those internationally respected companies that we can look on with pride and say that here in the Lehigh Valley, we still make things here and that's something to be proud of. Thank you. [applause]
You know, Governor Shapiro, one of his first major events when he took office was coming to LVEDC's annual economic outlook forum. And what he's always done is indicated and recognized that he realizes the Lehigh Valley as a model because we really are a testament to what happens when you prioritize partnership and not partisanship. When smart, focused, bipartisan leadership comes together. You know, when so many regions were retreating and resigning themselves to defeat in an area of industrial decline, we rallied and we built a better future and frankly charted our own destiny. And you heard Don cite the statistic. 700 manufacturers producing over $9 billion in economic output. 16% of our regional GDP is in manufacturing. That's 4% higher than the national average. That folks is something to be incredibly proud of. We still make things here in the valley and we are damn proud of it. To Governor Shapiro, I want to say thank you to your commitment to Pennsylvania workers and Pennsylvania families. We too have that competitive streak and we don't like to lose. And I remember last year when we were at the Allentown Commercial and Industrial Development Authority, we're one of the first cities in the Commonwealth and one of the first projects to receive pilot funding from the PA Sites program creating a small manufacturing opportunity here in Allentown. And as you often say, you were sick and tired of losing to Ohio. And folks, this is what winning looks like. We are beating Ohio and frankly every other state. We've got that GST mentality here in the Lehigh Valley. Look, this facility is going to create incredible high-paying jobs. And I'm so proud of our union heritage here in the valley. I just want to say we've got the steam fitters, the pipe fitters, the plumbers, and the union electricians that are ready to stand this job, get it done on time and under budget, and make sure that we're ready to start making life-saving pharmaceuticals here in the valley. And we couldn't do that without our Lehigh Valley building trades. And I saw Rob Baer here, president of our Pennsylvania building trades. We are fortunate folks to have incredible union labor here in the Commonwealth. And we have invested them through Governor Shapiro tripling funding for our apprenticeship programs in the Commonwealth, making sure that you don't just have to go to college to get a decent family sustaining job. This project is going to make sure so many union jobs are created. I want to really end with this. This is about government delivering. I think we live in an era when there is so much declining faith in institutions and government and projects like this show the power of delivering for people. As Mr. Ricks indicated this isn't just about creating future jobs. It's about building futures for families. Every one of these jobs is a future homeowner. It's a stable family. It's the opportunity to live well. It's the chance for a family to look their children in the eyes and know that they can give them the best possible future, that they can pay for their education and give them that family vacation that they deserve and give them the peace of mind and economic stability that frankly every family deserves. And that's what this project represents. Not just future jobs and future tax revenue, but frankly the future of families that will be changed forever in the Lehigh Valley by your presence. So thank you, Mr. Ricks, for that investment. And at the end of this, the most important thing to recognize is that this is about changing the lives of people across the Commonwealth and across the country. Because drugs like the ones that we're going to make here, just like our battleships fought for freedom, these drugs are about freedom of mind and freedom of body. The ability to move beyond chronic conditions and fight obesity so that every person can live a rich and fulfilling life. And for that, I have to say that the Lehigh Valley is not just changing lives here, but frankly changing lives all across the country and the globe. So, what a day. Incredibly proud. And just know that you've got an eternal partner in Lehigh County. I will do everything in my power to make sure you have the workforce you need, the workers you need in the long run, and a partner to make sure that the entire community benefits from your presence. Thank you. [applause]

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APA

Ricks, D. (2026, January 30). Pennsylvania Gov. Josh Shapiro Joins Eli Lilly To Announce $3.5 Billion Investment In Lehigh County [Interview transcript]. Forbes Breaking News. CEOInterviews.AI. https://ceointerviews.ai/interview/676276/

MLA

David Ricks. "Pennsylvania Gov. Josh Shapiro Joins Eli Lilly To Announce $3.5 Billion Investment In Lehigh County." Forbes Breaking News, 30 Jan. 2026. Transcript, CEOInterviews.AI, https://ceointerviews.ai/interview/676276/.

BibTeX
@misc{ricks2026_676276,
  author       = {David Ricks},
  title        = {Pennsylvania Gov. Josh Shapiro Joins Eli Lilly To Announce $3.5 Billion Investment In Lehigh County},
  howpublished = {Interview transcript, Forbes Breaking News. CEOInterviews.AI},
  year         = {2026},
  month        = {jan},
  url          = {https://ceointerviews.ai/interview/676276/},
  note         = {Speaker-attributed transcript with timestamps}
}