INDIANAPOLIS--(BUSINESS WIRE)--Purdue Research Park of Indianapolis, a business and technology park near the Indianapolis International Airport, has been named a State Certified Technology Park by the State of Indiana.
The designation is granted through the Indiana Economic Development Corporation and is designed to encourage the development of high-growth, high-wage business opportunities and facilitate technology transfer between the corporate and academic sectors. Receiving the distinction as a State Certified Technology Park allows for the local recapture of certain state and local tax revenue which can be invested in the development of the park.
The Purdue Research Park of Indianapolis opened in 2009 on a 78-acre site owned by the Purdue Research Foundation. The Purdue Research Park of Indianapolis is home to 14 new and expanding companies that employ about 160 people in the sectors of information technology, life sciences, engineering and other high-tech industries.
Companies in the Purdue Research Park of Indianapolis include Scale Computing Inc., a fast-growing information technology company; Advion BioSciences Drug Discovery & Metabolism Center of Excellence, a life sciences subsidiary of New York-based Advion BioSciences Inc.; and 180 Skills, an online, technical educational content development company.
"Since opening, we have experienced steady growth in the number of startups and expanding companies moving into the Indianapolis site. The Purdue Technology Center is near capacity with firms in the high-tech sector," said Joseph B. Hornett, senior vice president, treasurer and COO of the Purdue Research Foundation, which manages the Purdue Research Park network. "The Indianapolis site is the third of our four parks to receive Certified Technology Park status."
The Purdue Research Park of West Lafayette was the first State Certified Technology Park in 2003 and the Purdue Research Park of Merrillville received the distinction in 2006. The park network also has a site in New Albany, Ind.
The City of Indianapolis provided a $5 million grant to support the development of the park.
The Purdue Research Park network provides space and amenities to more than 200 companies that support about 4,100 jobs. The park is celebrating its 50th anniversary this year. According to a 2011 independent study by Thomas P. Miller and Associates, the Purdue Research Park network provides $1.3 billion annually to Indiana's economy.