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Seeking to position Indiana as a global leader in agritechnology and life sciences, Gov. Mike Braun unveiled a lofty goal in a public announcement Tuesday morning.
Speaking at a press conference with Secretary of Commerce David Adams, Braun said the state will invest $1 billion over 10 years to boost life sciences-related businesses, with the goal of creating 100,000 jobs in those sectors.
Braun said the new investment into human therapeutics, animal health, agritech, biotechnology and environmental innovation are part of his goal to create regional economic development plans by region. He said the Central Indiana Regional Development Authority, or CIRDA, will serve as the first “regional steward” over the initiative. CIRDA, an economic development alliance, represents more than 30 cities, towns and counties across central Indiana.
“Today, we’re launching a new initiative to grow jobs and wages while bringing innovation in these fields together,” Braun said. “Indiana will be an epicenter for reshoring and expansion in this area. These are tools we’ve already got, but this is the first time we’re designating [investment] towards a particular part of our economy.”
The investment comes in the form of IEDC tax credits and will be overseen by CIRDA, which will coordinate between private sector and research partners, according to Fishers Mayor Scott Fadness, the organization’s chair.
“This is exactly what regional leadership was designed to do,” Fadness said.“Central Indiana has already built a multibillion-dollar One Health economy. Our job now is alignment by bringing industry, universities, and local communities together under a unified strategy that accelerates growth.”
The end goal, officials said, is to cement Indiana as an “expansion epicenter” for biotech, life sciences and agriculture research and innovation. Though CIRDA has taken a leadership role in the initiative, officials said the tax credits will be used across the state.
The new investment will average $100 million per year over the next decade, which represents about a third of the IEDC’s annual allotment of tax credits. Adams said that’s meant to signal to companies and workers around the country that Indiana is committed to health and life sciences.
“A lot of states are reacting in terms of when opportunities present themselves, and they’re reacting to this,” Adams said. “We’re actually planting a flag in the ground for the next 10 years. It says we’re committed to life sciences on a global basis.”
Officials also still anticipate Indianapolis will be the new home for one of the U.S. Department of Agriculture’s new regional hubs. The USDA named Indianapolis as one of five regional cities it will have a presence in last summer, though no progress has been announced since then. Asked about a timeline for the hub on Tuesday, Braun said “nothing has been derailed there, but there’s no new news.”
Indianapolis and its surrounding counties already boast a strong presence in those industries, and key players have announced expansions or investments in central Indiana.
The world’s most valuable pharmaceutical company, Eli Lilly and Co., has announced more than $13 billion in investment in Indiana since 2023, including the Lilly Medicine Foundry in the LEAP Innovation and Research District in Lebanon.
One of the largest animal health companies in the county, Elanco Animal Health, recently partnered with Purdue University to form the OneHealth Innovation District on the west side of downtown Indianapolis.
Fishers this decade has established its Life Sciences & Innovation Park, which has attracted more than $1 billion in investments from companies including INCOG BioPharma Services, Stevanato Group and Genezen.
On the western edge of downtown Indianapolis, the 16 Tech innovation district is growing with biosciences startups along with larger groups like Heartland BioWorks and Indiana University’s Launch Accelerator for Biosciences, known as IU LAB.
Just this month, the CEOs of Indiana Corporate Partnership announced a nearly $70 million Catalyst Scholars Fund to strengthen Indiana’s chemistry research industry.
Braun said large companies like Lilly, along with research partners Purdue and Indiana University, will lead the way in creating the 100,000 jobs.
