Indiana Recruits Record Amount of Life Sciences Investment in 2010
12/7/2010 2:22:00 PM
Indianapolis - Indiana has drawn investment commitments for more than 4,000 new jobs from new and existing life sciences firms this year, according to a report given to the BioCrossroads board of directors yesterday by fellow board member and Indiana Secretary of Commerce, Mitch Roob.
This year, 20 life sciences companies including Dow AgroSciences, Evonik Degussa Corporation, AIT Laboratories, Biomet and Ascension Health told the state they plan future investments of more than $570 million and 4,071 jobs, the highest number of jobs and investment ever recorded for the industry by the state's lead economic development agency.
"Not only is the volume of jobs and investment particularly strong this year, but life sciences jobs are typically high-wage which is great news for Indiana workers throughout the state," said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation.
The more than 4,000 projected jobs tops 1,228 projected jobs in 2009, 1,329 projected jobs in 2008, 2,990 projected jobs in 2007, 2,620 projected jobs in 2006 and 2,272 projected jobs in 2005.
"The state's strong recruitment of new life sciences jobs to Hoosier soil proves the point we've been making for several years: Indiana is truly home base when it comes to life sciences opportunities, a fact that is increasingly well known both here and far beyond our borders," said David Johnson, president and chief executive officer of BioCrossroads. "With key alignment among our public, private and university sectors, Indiana is the smart place to be for growing -- or sustaining -- companies in the complex business of finding, developing and delivering better products for better human health."
The 2010 life sciences investment growth was anchored by Dow AgroSciences' March announcement of plans to invest $343.9 million at its Indianapolis headquarters and create 577 new jobs by 2015. Just nine months after Dow AgroSciences' initial announcement, the company reports the addition of 90 new Indiana jobs.
"Dow AgroSciences is committed to discovering technology to address the challenges of feeding a growing population, and our investment in our multi-year expansion project in Indiana will advance our progress in meeting these needs," said Antonio Galindez, president and chief executive officer of Dow AgroSciences. "We continue to move forward on our five-year global growth plan to expand our research and development and commercial capabilities to continue developing new product solutions for our customers in agricultural and related market segments."
The companies and associated investment totals are detailed in the table below.
The Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.