Greenfield-based Elanco Animal Health has announced plans to move its global headquarters to downtown Indianapolis.

Elanco, the world’s second-largest animal health company, will establish its global headquarters at the site of the former GM Stamping Plant in downtown Indy. The 91-acre former industrial site has sat vacant since General Motors closed the plant in 2011.

Elanco says the new site in downtown Indy will allow it to “consolidate its global operations and more than 1,000 team members at one location,” according to Inside Indiana Business.

The investment in its Indianapolis HQ will allow Elanco to create nearly 600 jobs over the next decade while retaining more than 1,600 employees.

The company will keep its manufacturing centers in Clinton, Indy, and Terre Haute.

“It is a momentous day for the state of Indiana as we celebrate Elanco’s decision to establish its global headquarters in central Indiana, positioning itself for future growth and consolidation in the Hoosier state and creating hundreds of high-paying jobs for Hoosiers,” said Governor Eric J. Holcomb. “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.”

Elanco plans to break ground on the new headquarters in the first half of 2021. Construction should be complete in the next two to three years.

The city of Indianapolis will help increase accessibility to the site through the construction of a new, two-way bridge across the White River at the current location of Henry Street. In addition, the city and state will partner in the development of a new pedestrian bridge connecting both banks of the White River.