Indiana is looking to build on the swell of investments that have poured in from major drugmakers over the years with its own billion-dollar commitment that could establish the state as a prime spot for life sciences innovation, among other health and science sectors.
The $1 billion state commitment is centered on generating new jobs and higher wages, with a goal of creating 100,000 “high wage” jobs over the next decade, Indiana Gov. Mike Braun announced in a recent press release.
“Indiana is leading in life sciences, and today we’re investing to accelerate that growth with the goal of creating 100,000 new high wage jobs over the next 10 years,” Braun said.
The investment will come in the form of tax credits, according to local reports, and will be tied to “measurable outcomes” in order to foster accountability and long-term return on investment, the governor said. The plan is to make Indiana the “re-shoring and expansion epicenter and premier destination for human therapeutics, animal health, agritech, biotechnology, and environmental innovation,” according to Braun.
Apart from bolstering the life sciences, the state outlay also focuses on nurturing the state’s agricultural sciences industry.
Braun issued an order last year requesting that different regions of the state write up formal growth plans concerning employment and economic development. Indiana’s central region ultimately identified the life sciences sector as a “core growth engine” within its regional plan, according to the release. As such, the Central Indiana Regional Development Authority (CIRDA) has been tapped as a “regional steward” to coordinate and execute on the $1 billion growth plan.
“Our job now is alignment by bringing industry, universities, and local communities together under a unified strategy that accelerates growth,” CIRDA Chair Scott Fadness, also mayor of Fishers, Indiana, said in the governor’s announcement.
Eli Lilly, Roche, Novartis and other major companies across agriculture, animal health and medtech were specifically mentioned as “anchors” to the initiative.
Lilly, for one, has poured billions of dollars into its Indiana operations after getting its start in the state’s capital all the way back in 1876. Much of the $50 billion in manufacturing investments the company has committed to since 2020 is going to its spread of Indiana plants, including a $9 billion active pharmaceutical ingredient site in Lebanon and a $4.5 billion R&D and manufacturing facility dubbed the Lilly Medicine Foundry in the same city.
“When Col. Eli Lilly founded our company here 150 years ago, he set out to create medicines that make a meaningful difference in human health,” Lilly’s CEO David Ricks commented in the release. “Today, Indiana is home to a vital life sciences community, and we’re proud to support the State in expanding it—creating jobs, advancing innovation, and improving lives for Hoosiers and people around the world.”
Meanwhile, Roche is plugging $550 million into a new Indianapolis diagnostic site that’s set to become a “major hub” for its continuous glucose monitoring systems. And the company recently signaled other expansions across its Indiana footprint through a massive $50 billion U.S. investment.
Novartis also operates a radioligand therapy manufacturing site in the state, which is “strategically positioned at the crossroads of America,” a spokesperson said at the 2024 ribbon-cutting ceremony.
