Indiana Fortifies Role as Key Pharma Hub with Capital Projects Soaring Over $500 Million

---

Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Long claiming the veritable Eli Lilly and its world headquarters as their biggest plum, Indiana hasn't been content to sit back and rest on its laurels. Aggressive financial incentives are just part of the plan that has helped push the state's life sciences sector to a 40% growth rate in the 1990's, according to recent report issued by the Battelle Memorial Institute (Columbus, Ohio). State records indicate that over 139 life science companies employ nearly 30,000 people.

It is the state's goal, through the $1 billion 10-year Energize Indiana program, to create 200,000 lucrative positions within the life science spectrum and other high tech areas. The plan includes the Indiana Venture Fund with $144 million to assist companies as they begin start up operations. The Economic Development for a Growing Economy (EDGE) program provides tax credits to companies based on how many new jobs they create through capital projects. Universities have even got on the bandwagon with programs like Purdue University's Trask Venture Fund. The fund provides one-time, pre-seed capital of up to $250,000 for faculty members hoping to launch companies.

While doing their best to attract new start-up companies in the sector, Indiana hasn't neglected their resident big pharma players. With a roster of companies that include the erstwhile Ely Lilly (NYSE: LLY) (Indianapolis, Indiana) (Plant 1504981), Baxter International (NYSE: BAX) (Deerfield, Illinois) (Plant 1033808), and Roche Diagnostics (NYSE: (Indianapolis, Indiana) (Plant 1060853), the state has gone out of their way to provide amenable terms for them to spend their capital dollars in Indiana. Successfully, it should be noted, as all Lilly, Baxter and Roche each have massive expansion plans for their sites in Indiana on the horizon.

- Lilly: Indianapolis Technology Center, Indianapolis, Indiana $322 million for multiple expansion projects (PEC 11002290).

- Roche: Roche Diagnostics, Indianapolis, Indiana $135 million for expansion (PEC 11002222).

- Baxter: Baxter Healthcare, Bloomington, Indiana $100 million for expansion (PEC 11002250).

Click the following link to view Industrialinfo.com's 2003 North American Pharmaceutical-Biotech Forecast.