Hogsett: 16 Tech to Spark 'New Indianapolis'

Posted: Updated:
(Image of Indianapolis Mayor Joe Hogsett and Inside INdiana Business Host Gerry Dick courtesy of Cushman & Wakefield.) (Image of Indianapolis Mayor Joe Hogsett and Inside INdiana Business Host Gerry Dick courtesy of Cushman & Wakefield.)

Indianapolis Mayor Joe Hogsett says the planned 16 Tech downtown innovation district will mark "the birth of a new city." He says the development, to be anchored by the $350 million Indiana Biosciences Research Institute, shows a commitment to biotechnology that can put Indianapolis in a position that it "simply doesn't enjoy right now." Earlier this week, the institute announced $100 million in funding from Lilly Endowment Inc. and the Eli Lilly and Co. Foundation.

Hogsett believes the 16 Tech project can be transformative for Indianapolis, but for the entire state. He says the investments by the state and local companies including Roche Diagnostics, Cook Medical, Dow Agrosciences and Eli Lilly and Co. "speaks volumes" about the success of public-private partnerships in the state.

The institute has attracted about $150 million in funding so far. IBRI Chief Executive Officer David Broecker says this week's grants give the effort "instant credibility." He is moving his focus to identifying families and individuals interested in supporting the project. The City-County Council in Indianapolis last year approved $75 million in bond funding for infrastructure improvement at the development. Engineering work is underway. Broecker expects IBRI to move to its permanent home at 16 Tech in 2018.

The 60-acre district also includes residential and retail space.

Hogsett says investment in the project "speaks volumes" about the state's public and private commitment to biotech.
  • Perspectives

    • How to Find a New Audience After Hitting a Marketing Plateau

      It may sound like a marketer’s dream scenario: efforts have proven to be so successful it appears a company has completely saturated their target audience. While it may be a good problem to have, it still may be a problem. Hitting a marketing plateau is an opportunity for companies in any industry to reevaluate, re-energize and come to the table with new ideas for better understanding existing customers and engaging new audiences.



  • Most Popular Stories

    • Shaina Keck

      Pier 48 Manager Named

      FK Restaurant Group has named Shaina Keck sales and banquet manager for Pier 48 Fish House and Bar in downtown Indianapolis. She previously served in sales at Kilroy's Bar & Grill. Keck is a graduate of Indiana University Kelly School of Business with a bachelor of science degree in finance and accounting with a concentration in international studies.  
    • (image courtesy of The Times of Northwest Indiana)

      Crews Start Demolition of Carson's in Hammond

      The face of downtown retail in Hammond is changing once again with the demolition of Carson’s department store, the one-time the anchor of Woodmar Mall. Our partners at The Times of Northwest Indiana report excavating crews have started to demolish the last vestige of the shopping center which stood since the 1950s. 

    • (image courtesy of The Times of Northwest Indiana)

      U.S. Steel Cuts Jobs, Low Price Imports Partially to Blame

      Pittsburgh-based U.S. Steel has announced it will idle its tin mill operations in East Chicago, affecting nearly 300 workers, half of which will lose their jobs. Our partners at The Times of Northwest Indiana report U.S. Steel blames the layoffs on the Del Monte food company which announced its own mass layoffs. 

    • Gas City Startup Helping Hemp Farmers

      Last month, it became legal for Hoosier farmers to grow hemp and a Gas City-based startup is being aggressive in being among the first to take advantage of market opportunities. Heartland Harvest Processing is helping farmers connect the new agricultural commodity to consumer products, including CBD. Founder and Chief Marketing Officer Chris Moorman says the first hemp harvest under the new law is expected to begin next month. In an interview with Business of Health...

    • Lucy Schaich

      City of Bloomington Promotes Schaich

      The city of Bloomington has promoted Lucy Schaich to volunteer network coordinator, a program of the Community and Family Resources Department.  She served as assistant coordinator from 2000 until 2018, when she became the volunteer network’s interim director. Schaich is a graduate of Indiana University.