INDIANAPOLIS - Crane operators will hoist and construction workers will weld Thursday the final steel beam into place atop the Innovation 1 building, the first new structure at 16 Tech. The ceremonial event marks a key milestone for the urban innovation district in Indianapolis.

The 10-foot-long beam was autographed by hundreds of people, including scientists, tech leaders and residents from nearby neighborhoods.

Browning Davis, the joint firm handling construction and management of the project, says the $30 million structure is fully leased.

The five-story structure will eventually house the Indiana Biosciences Research Institute (IBRI), the Central Indiana Corporate Partnership (CICP), and Indiana University School of Medicine researchers. Construction is expected to be completed next summer.

More than 27 Marion County companies are working on phase one of construction, creating 132 construction jobs.16 Tech planners expect the innovation community to create close to 3,000 jobs over 10 years.

16 Tech Chief Executive Officer Bob Coy will appear this weekend on Inside INdiana Business with Gerry Dick. In December Coy was a guest on a special Quality of Place Projects town hall edition of the show, which you can watch by clicking the link below.