Chances are that if you live in Indiana, then you probably know someone who works in healthcare and/or life sciences.
A new study commissioned by Biocrossroads took a deep dive into how much of an impact both sectors of industry have on Indiana’s economy. The numbers show that one in every 10 Hoosiers with a job in Indiana works in one of these two sectors.
Only top of that, healthcare and life sciences account for about $150 billion in economic impact for the state.
“It also goes back to just the sheer amount of innovation and production that’s happening within the sector that’s not only benefiting Hoosiers but really the health of people all over the world,” said Lori LeRoy, executive VP of communications for BioCrossroads, on Inside Indiana Business. “We need to double down and ensure that we continue to have a growing and strong ecosystem to welcome in new companies.”
LeRoy highlights the biggest announcements in life sciences investment in Indiana, such as Eli Lilly’s planned manufacturing expansion in Lebanon and Catalant’s multi-million dollar investment in Bloomington.
“What’s great about Indiana is not just the volume, but we also have a very diverse group of types of products that are manufactured here, everything from the biologic products that may be injected or taken for therapeutic purposes, but also, treatments for knee replacements and diagnosing of disease. So it’s fairly unique in that sense that Indiana has a wide variety of types of life sciences products that are manufactured here.”
LeRoy said it’s this diversity that has allowed Indiana to be the only state in the country are all three of the available COVID-19 vaccines are made, such as having companies like Roche Diagnostics and a multitude of orthopedic companies in northeast Indiana.