INDIANAPOLIS -- The office of Indiana Gov. Mike Braun announced on Monday that the state-owned land at the former GM Stamping Plant site near downtown Indianapolis has been sold.

According to a news release from Braun's office, the state sold the plant site to Elanco Animal Health for $27 million, allowing the company and its partners, like Purdue University, to "accelerate" the creation of an innovation district downtown.

With the sale, the land will now be under private ownership, according to the release. Braun's office said the state of Indiana will continue to be an "active partner" to support the site's future development through the Indiana Office of Commerce.

“This agreement is a responsible step forward," Indiana Gov. Mike Braun said in the release. "It places this property in

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