Indiana Recruits Record Amount of Life Sciences Investment in 2010

INDIANAPOLIS (Dec. 7, 2010) – Indiana has drawn investment commitments for more than 4,000 new jobs from new and existing life sciences firms this year, according to a report given to the BioCrossroads board of directors yesterday by fellow board member and Indiana Secretary of Commerce, Mitch Roob.

This year, 20 life sciences companies including Dow AgroSciences, Evonik Degussa Corporation, AIT Laboratories, Biomet and Ascension Health told the state they plan future investments of more than $570 million and 4,071 jobs, the highest number of jobs and investment ever recorded for the industry by the state’s lead economic development agency.

“Not only is the volume of jobs and investment particularly strong this year, but life sciences jobs are typically high-wage which is great news for Indiana workers throughout the state,” said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation.

The more than 4,000 projected jobs tops 1,228 projected jobs in 2009, 1,329 projected jobs in 2008, 2,990 projected jobs in 2007, 2,620 projected jobs in 2006 and 2,272 projected jobs in 2005.

“The state’s strong recruitment of new life sciences jobs to Hoosier soil proves the point we’ve been making for several years: Indiana is truly home base when it comes to life sciences opportunities, a fact that is increasingly well known both here and far beyond our borders,” said David Johnson, president and chief executive officer of BioCrossroads. “With key alignment among our public, private and university sectors, Indiana is the smart place to be for growing — or sustaining — companies in the complex business of finding, developing and delivering better products for better human health.”

The 2010 life sciences investment growth was anchored by Dow AgroSciences’ March announcement of plans to invest $343.9 million at its Indianapolis headquarters and create 577 new jobs by 2015. Just nine months after Dow AgroSciences’ initial announcement, the company reports the addition of 90 new Indiana jobs.

“Dow AgroSciences is committed to discovering technology to address the challenges of feeding a growing population, and our investment in our multi-year expansion project in Indiana will advance our progress in meeting these needs,” said Antonio Galindez, president and chief executive officer of Dow AgroSciences. “We continue to move forward on our five-year global growth plan to expand our research and development and commercial capabilities to continue developing new product solutions for our customers in agricultural and related market segments.”

The companies and associated investment totals are detailed in the table below.

Company Name  City  Projected Jobs  Projected Investment

ACell, Inc.  Lafayette  38  $745,424

Advantis Medical, Inc.   Indianapolis    92  $5,600,000

American Institute of Toxicology, Inc.    Indianapolis   160  $74,100,000

Arcadia Resources, Inc.  Indianapolis  934  $3,900,000

Ascension Health, Inc.  Indianapolis  500  $10,900,000

Beckman Coulter, Inc.  Indianapolis  95  $18,200,000

Biomet  Warsaw  278  $26,000,000

Dow AgroSciences LLC  Indianapolis  577  $343,900,000

Evonik Degussa Corporation  Lafayette  650  N/A

In Touch Pharmaceuticals, Inc.  Valparaiso  90  $2,200,000

Intensive Air, Inc.  South Bend  150  $17,700,000

Iotron industries USA  Columbia City  20  $15,300,000

L.H. Medical Corporation  Ft. Wayne  65  $5,400,000

MED-1 Solutions, LLC  Greenwood  53  $4,400,000

Pharmaceutical Vessel Engineering  Sellersburg  22  $1,500,000

Rexam Consumer Plastics Inc.  Franklin  46  $2,900,000

Stericycle  Indianapolis  109  $390,000

Theoris Group, Inc.  Indianapolis  50  $985,800

Vortek Surgical, LLC  Brownsburg  72  $10,700,000

Zimmerman Biotechnologies  Greenwood  70  $28,400,000

About IEDC
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.

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