The following blog was written by Jennifer Rhodes, a partner at Ice Miller LLP.
It is no surprise that life sciences received the highest level of support among CEOs when asked to rank a series of economic development initiatives. Life sciences also received the highest level of support with respect to growth potential over the next several years. These survey results are consistent with 2007 findings, indicating a high level of stability in these perceptions.
So why the strong interest in life sciences? What are the economic benefits of focusing in the areas of research and development, technology transfers and commercialization?
According to a report by the Battelle Memorial Institute, Indiana is one of the nation's top four life sciences leaders (based upon number and concentration of life sciences-related jobs). In addition, Indiana is home to a number of pharmaceutical, life science and healthcare companies, including many that focus on bringing important medical discoveries to market. Finally, Indiana has the second largest medical school in the U.S. (Indiana University School of Medicine) which attracts some of the nation's best physicians and research scientists.
Alone, any one of these facts is a stand-out. Combined, they create an environment and culture that differentiates us from many states in terms of our strategic focus to improve the lives of people through a focused and strategic effort on life science discoveries.