The Business Development Forum will explore recommendations around fostering economic development across the life science sectors in Indiana. Based on survey feedback from our Roadmap 2020 Strategic Plan, our members would like IHIF to assume a leadership position in the promotion of Indiana’s life science industry and assets and provide on-going educational opportunities and current resource materials to interested partners in economic development.
Resources for Economic Developers
- New from BioCrossroads: 2020 Life Sciences Economic Impact and 2021 Central Indiana Economic Impact Report
- CSBI 2021 Life Sciences Trends Workforce Report
- BIO: The BioScience Economy: Propelling Life-Saving Treatments, Supporting State & Local Communities 2020
- BIO Transforming Ideas into Advances: Best Practices in State and Regional Economic Development Initiatives 2019 (new report coming soon!)
- Indiana Life Science Infographic 2021
- MedTech Jobs by State (AdvaMed)
- Hoosiers Work for Health: State stats and Vendor Impact Data
- Duke Energy Top Rated Life Sciences Sites (map)
- Please help spread the word and share IHIF’s Medical Manufacturing Space Survey
Connect with Forum members
- Picture Your Organization Here!
Lab Space 101
Introduction to Laboratory Design /Understanding Your Client’s Needs
Tuesday, October 26 – 11 am – noon
Suitable research space is essential to life sciences companies’ success but all labs aren’t created equal. Please join us for a short course explaining the different types of space and what tenants really mean when they describe their specialized spaces.
Kay Townsend, Principal, BSA LifeStructures
SPECIAL DOWNLOAD: BSA Discovery Spaces Brochure
Now available: Webinar 2 featuring Pete Pellerito from BIO. “Indiana and the BioScience Economy Report”, 11/11/20 – watch video here
Now available: Webinar 1 on “Innovative Discovery Spaces Past, Present & Future – 3 Case Studies”, presented by BSA LifeStructures 10/21/20 – watch video here
Fishers Seeing Surprising Life Sciences Momentum
The June announcement by Italy-based Stevanato Group of plans for a $145 million manufacturing plant and 230 jobs in Fishers is the latest example of what Mayor Scott Fadness calls surprising momentum in the life sciences sector. Fadness says he thinks investment from life sciences companies could top a half billion dollars over the course of a year. “The idea that we have people who know how to make things in manufacturing and have a deep understanding of life sciences, we found that was a really great opportunity to double down,” said Fadness. Read More
Cell Therapy Facility Design Synopsis: Horizontal vs. Vertical
As the requirements for lab space evolve with the industry’s needs, one consideration for developers and managers is whether to adopt a horizonal (single-story) or a vertical (multi-story) structure. This article presents to the reader several qualifications of both layouts to help make the correct choice; these include functional spaces, choice of location, and project delivery. It will likely not surprise anyone that there is no universal, “one solution fits all” answer; instead, one must consider the pros and cons of both structures to determine which is best for their needs. Read More →
Medical Device Companies Open New HQ
A pair of companies in the orthopedic medical device industry has opened new headquarters in Columbia City. When it was first announced in late 2019, Mach Medical, along with sister company SITES Medical, said the $14 million project would create up to 132 jobs by the end of 2025. Read More
Indiana’s Life Sciences Sector Sees Record Venture Funding – By ASSOCIATED PRESS -Indiana’s life sciences sector attracted a record $257 million in venture funding during 2020 despite the state’s economic woes wrought by the coronavirus pandemic, an Indianapolis-based group says.
The venture funding tally for 2020 was more than triple the previous year’s amount, according to figures from BioCrossroads, which tracks the critical funding that helps rising life sciences businesses. Read More
Develop Indy Reports on 2020 Business Investments (Source: Inside Indiana Business) – The economic development organization for the city of Indianapolis and Marion County says the community measured “solid growth” in 2020, despite the unpredictability brought on by the pandemic. Develop Indy is reporting $1.4 billion in capital investment and over $728 million in real estate development over the past 12 months. The organization highlighted growth in both the technology and life sciences sectors.
LIFE SCIENCES: In 2020, the IEDC secured 36 commitments from life sciences companies to locate or expand in Indiana. Together, these businesses plan to invest more than $890 million and create up to 5,447 new jobs (+50% from 2019) in Indiana. (Source: IEDC)
Key Considerations for Reshoring U.S. Drug Manufacturing – This Diagnosing Health Care episode dives into the key business operations and legal considerations for reshoring active pharmaceutical ingredient (or “API”) and finished drug product manufacturing to the United States. The episode features Members of the Firm Delia Deschaine and Neil Di Spirito and is hosted by attorney Bonnie Scott. Listen Here (Source: Epstein Becker Green)
The Rise Of Gene & Cell Therapy, Need For In-House Production Facilities – Since 2018, our team has seen a dramatic increase in gene and cell therapy projects, many of which are remarkably similar in their scale, employment profiles and investment requirements. As biopharma companies urgently seek expansion sites in hubs across the U.S., we have identified emerging location demands and other important trends. Read More (source: BLS & Co.)
LISTEN: Jay Biggins Discusses the Future of the Life Sciences Industry
Jay Biggins, executive managing director at BLS & Co., recently discussed the life sciences sector with Joseph Fetterman at Colliers International. Tune in to hear more about infrastructure development, in-house production facilities and innovations & research. Video here (source: BLS & Co.)
River Ridge Showing No Signs of Slowing Down
The pandemic is not slowing interest in the River Ridge Commerce Center, the former Indiana Army Ammunition Plant property that is being transformed into a massive business and distribution hub. Read More (Inside Indiana Business)
The expansion will add 44 acres to the campus, extending it south to 12th Street and west to Interstate 65.
Keep an eye out for cold-chain distribution projects related to COVID vaccine distribution and some grocery opportunities too (source: Site Selection).
Statistic overheard at a Site Selectors Guild event – 67% of future projects (nationally) will be in the life sciences/biotech followed by 51% in manufacturing.
European medical firm enters U.S. via Noblesville – (Source: IBJ) Luxembourg-based B Medical Systems is a European medical refrigeration and transportation company opening a 10,000-square-foot warehouse and sales office in Noblesville.
Colliers: “The Impact of SARS-CoV-2 on the Life Sciences Real Estate Sector” — addresses five immediate trends we expect to see as we navigate COVID-19. (register to download)