updated: 6/12/2012 8:13:32 AM
The Purdue Research Park is planning a major event today to wrap up its 50th anniversary celebration. Governor Mitch Daniels is among the officials scheduled to attend the gathering in West Lafayette. A statewide economic impact study, released to mark the park's 50th year, shows the incubator has an annual economic impact of $1.3 billion.
The Purdue Research Park was founded in 1961.
It has grown to include four locations throughout Indiana, with 200 companies that employ more than 4,000 people.
Chief Operating Officer Joe Hornett says the incubator weathered the recession relatively well, suffering a loss of 100 net jobs. He says in many cases, people who lost jobs from one company were able to get work with another within the system.
Hornett says the park in West Lafayette has grown rapidly in recent years. He says in its first 40 years, the facility grew by one million square feet. In the last 10 it has grown by an additional 1.5 million square feet.
He says the growth continues with the groundbreaking for Advanced Robotics Laboratories, which is a subcontractor for Caterpillar Inc. (NYSE: CAT).
Source: Inside INdiana Business