The sector reaches every corner of the state and accounts for a $44 billion impact on Indiana's economy with more than 50,000 jobs (and an indirect impact of another 105,000 jobs). Since 2002, Indiana has seen a 21 percent increase in life sciences employment and a growth in companies from 550 to more than 825. In 2010, more than $9.1 billion worth of life sciences products were exported from Indiana, accounting for nearly one-third of the State's total exports.
"As much as any organization, BioCrossroads has driven Indiana's emergence as a life sciences leader over the last decade," said Bart Peterson, senior vice president of corporate affairs at Lilly and mayor of Indianapolis in 2002 when BioCrossroads was created. "As a state, we already had amazing resources -- from a nationally recognized medical school to global leaders in medical innovation and health care. BioCrossroads has facilitated stronger relationships among existing companies while enhancing the visibility of what our state offers -- leading to nearly 300 life sciences startup companies over the last 10 years."
Although the organization has made greater impact than originally envisioned, there is still much work to be done.
"The power of Indiana's life sciences sector has been even stronger than we realized. We have even more energy and people to collaborate today than we did when we were first organized in 2002," added D. Craig Brater, M.D., dean of Indiana University School of Medicine and chairman of the board of BioCrossroads. "The work from here gets harder and takes even more collaboration from key stakeholders in the community, but there are many more opportunities for growth and success in the sector, and BioCrossroads is poised to lead the way.
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