Study: Indiana a Life Sciences Stand-Out

Posted: Updated:
(Image courtesy of the University of Notre Dame.) (Image courtesy of the University of Notre Dame.)
WASHINGTON, D.C. -

The author of a new report from a Washington D.C.-based science and technology think tank says Indiana "has done quite well" when it comes to creating a successful life sciences ecosystem. Information Technology and Innovation Foundation Senior Fellow Joe Kennedy says the sector -- which includes pharmaceutical, biotechnology and medical device and equipment companies -- was selected because new technology is showing great promise in reducing cost and increasing effectiveness. In addition to Indiana, the report highlights efforts in Colorado, New Jersey, North Carolina and Washington.

Kennedy, who previously served as chief economist for the U.S. Department of Commerce in the George W. Bush administration, says Indiana has several assets and initiatives that make it a major player nationally. One key is three nationally-recognized research institutions -- Indiana University, Purdue University and the University of Notre Dame -- that not only pump out highly-trained life sciences graduates, but also are tied into the business community. The educational institutions, he adds, have "also made efforts to connect both researchers and entrepreneurs with funding, so that people with a good idea or good research results can get a little money to try and prove it out." Kennedy says a funding gap still remains between research stages and commercialization, but efforts in Indiana have made strides in filling the void.

Indiana stands out, Kennedy says, in areas such as feeding the pipeline of skilled workers and state incentives for research and development -- an area where the study says Indiana is the most generous in the nation by offering a 10-15 percent deduction for R&D expenses. He also singled out BioCrossroads, Indiana's life sciences initiative as a great connection point for industry, education and workforce. "If a new state wanted to get in, BioCrossroads would be a good model to follow," Kennedy said.

You can connect to the full national report by clicking here.

Information Technology and Innovation Foundation Senior Fellow Joe Kennedy says Indiana has several assets and initiatives that make it a major player nationally.
  • Perspectives

    • Stock Market Volatility: How to Survive

      Recently the stock market experienced steep declines tempered with rebounds. Investors were left reeling from this sudden volatility. But what exactly is volatility? What caused it to occur? And what can you do to help protect your investments?

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Circle Centre Set For Major Changes

      Major changes are coming to Circle Centre Mall in downtown Indianapolis. The Circle Center Partnership has announced a multi-million renovation project it says will add a "fresh, contemporary look" to the nearly 25-year-old mall. An exact investment figure for the project is not being disclosed. The partnership says the renovation will encompass all areas of the mall, including its parking garages. The renovation project is set to begin...

    • 'Best Places' in Indiana Reaches Record

      The Indiana Chamber of Commerce has released the 2018 list of Best Places to Work in Indiana. A record 125 companies are being honored this year and more than 50 are first-timers or returning after a year or more off the list. Employers in over two dozen communities are represented and the chamber will unveil the rankings of the Best Places honorees during a May 3 awards dinner at the Indiana Convention Center in downtown Indianapolis.

    • Franciscan Closing Carmel Facility

      Mishawaka-based Franciscan Health Inc. says it is closing its urgent care center in Carmel. The health system says the employees at its ExpressCare and WorkingWell services at Village Park Plaza will be retained and move to other area locations.

    • Companies With Indiana Presence Among 'Best' to Work For

      Multiple companies with large Indiana footprints have been dubbed one of the 100 Best Companies to Work For. The results of the annual list from Fortune are determined by more than 315,000 employee survey responses. The publication's Trust Index Survey included over 50 questions that focused on executive team effectiveness, innovation and people-focused programs. Companies on the list have at least 1,000 employees and must reach certain participation and confidence levels.

    • Manufacturing Exec: Indiana Has a 'Population Problem'

      The president of the Indiana Manufacturers Association says, to fill the growing number of openings in Indiana's manufacturing sector and beyond, the state needs to ramp up efforts to increase its population. "Our check engine light is on," says Brian Burton, "and it's blinking." He says the association is pushing a measure with state lawmakers that would exempt some people who move to Indiana for a job from paying state income tax for a number of years.