Indiana Biosciences Research Institute Is Proposed
Governor Mike Pence says the creation of a new Biosciences Research Institute that was announced Thursday will create jobs, attract investment and talent from around the globe and help retain the state’s top graduates. Indiana Public Broadcasting’s Brandon Smith reports on what’s being called the first industry-led life sciences research institute in the country…..
The Indiana Biosciences Research Institute is a collaborative effort between private companies such as Eli Lilly, Cook Group and Dow AgroSciences and the state’s research universities – IU, Purdue and Notre Dame. By pooling resources and attracting new researchers to Indiana, the aim of the institute is to make the transition from the lab to the marketplace easier. BioCrossroads President David Johnson, who sits on the board of directors for the new institute, says part of its mission is to capture the dollars being spent outside the state by Indiana life sciences companies. He says even retaining five percent of that business will be a huge boon to the state:
“That’s 250 to 300 million dollars a year coming into Indiana’s economy and that’s real money and that is business and that is, in fact, exactly what the governor is talking about – putting Hoosiers to work.”
Governor Mike Pence says the value of the institute goes beyond the economic benefit for Indiana:
“Health issues that as we all know and we say, with heavy hearts, impacts too many Hoosiers – obesity, diabetes and heart disease…we’re going to come up with the breakthroughs here that are going to benefit Hoosiers and deal with some of the maladies that our own citizens deal with.”
The General Assembly appropriated 25 million dollars to get the institute up and running initially. It will ultimately cost 360 million dollars to fully create and Johnson says the bulk of that funding will come from private investment and donations.
For Indiana Public Broadcasting, I’m Brandon Smith.