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Indianapolis Region, Indiana - Metro Spotlight

By Michelle Janowitz

Indianapolis Region is a 10-county area The Indianapolis Region is a 10-county area—including Boone, Hamilton, Hancock, Hendricks, Johnson, Madison, Marion, Monroe, Morgan, and Shelby counties—that is home to around 1.9 million people.

Indianapolis Region: Life Sciences Assets

• The Indianapolis Region is home to the Indiana University School of Medicine—the second largest research and teaching hospital in the U.S.—as well as other top-notch research institutions such as Purdue University, the University of Notre Dame, and the Rose-Hulman Institute of Technology.

• The region has six state-certified technology parks, with incentives to encourage clustering and growth of new companies. Many of these incentives are focused on nurturing life sciences companies.

• The Indiana University Emerging Technologies Center is a 65,000-square-foot life sciences business incubator in downtown Indianapolis, and home to 22 new companies.

Eli Lilly Pictured above is famed pharmaceutical company Eli Lilly and Company’s main lobby at its headquarters in Indianapolis. The company employs around 17,000 workers in the Indianapolis Region. Earlier this year, a report by BIO and Battelle ranked the Indianapolis Metropolitan Statistical Area, home to 24,051 bioscience jobs, as having the ninth largest concentration of bioscience jobs in the nation.

• Purdue Research Park in West Lafayette, IN is the nation’s largest university-based incubator; it is home to the state’s highest concentration of high-tech and life sciences companies, including 40 startups employing more than 2,500 workers.

• Purdue University’s Discovery Park, a $250 million campus, will house interdisciplinary research and education facilities, such as the Birck Nanotechnology Center and the Bindley BioScience Center.

• Biologistics, the world’s second largest FedEx hub, is located at Indianapolis International Airport. The region also has a solid network of companies experienced in the special techniques needed to store and ship medical and pharmaceutical products.

• The Indianapolis Region boasts the second highest concentration of biopharmaceutical jobs in the United States.

• Indianapolis ranks ninth out of 50 North American and European cities for having the lowest total operating cost for biomedical facilities.

 

 

 

Largest Communities
in the Indianapolis Region

Indianapolis 785,597

Bloomington 69,247

Lafayette 61,244

Carmel 60,570

Anderson 57,496

Source: U.S. Bureau of the Census; STATS Indiana

The Indianapolis Region’s Largest
Life Sciences Employers*

Eli Lilly and Company Pharmaceutical Mfg. 17,000

WellPoint Inc. Insurance Carriers 4,200

Dow AgroSciences LLC Agricultural, Chemical, and Biotech 3,200

Roche Diagnostic Corp. Surgical and Medical Instrument Mfg. 2,800

* Does not include health care or higher education facilities
under NAICS code 61 or 62

Source: The Indy Partnership Employer Database 2006

 

Indianapolis Lures Life Sciences Company HQ

Average Annual Life Sciences Salary
by Occupation*

Average Annual Life Sciences Salary by Occupation*

Biochemists and Biophysicists $109,034

Chemists $100,651

Medical/Clinical Technologists $48,630

Microbiologists $43,867

Medical/Clinical Technicians $32,926

*Wages are a weighted average for the Anderson, Bloomington, Indianapolis, and Lafayette MSAs

Source: U.S. Bureau of Labor Statistics, OES Wage Survey, May 2006

In October, the Indianapolis region’s already flourishing life sciences sector—which includes such big names as Eli Lilly, Cook, Inc., Roche Diagnostics, and Dow AgroSciences—got a boost when Arcadia Healthcare announced its decision to relocate its national headquarters from Southfield, MI (a Detroit suburb) to Indianapolis. This move will create 60 new jobs by year’s end and more than 400 new jobs by 2010.

Not only will this relocation help the company save money due to Indiana’s lower tax rate, but the state is also promising to help Arcadia’s move with $6 million in performance-based tax credits and $137,500 in training grants. The city of Indianapolis is also chipping in with property tax abatement money.

The relocation of the company’s headquarters comes as it readies the national launch of DailyMed™—a drug packaging system that puts patients’ multiple prescription and over-the-counter medicines and vitamins into a roll of single dose packs labeled with the dates and times the patient should take the medications.

As part of its relocation to Indiana, Arcadia is developing a relationship with the state’s Family and Social Services Administration to market DailyMed™ to the more than 100,000 Medicaid recipients as well as the 1.7 million Hoosiers enrolled in Medicare.

 

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