Indy Chamber News Archives
16 Tech is one of Central Indiana’s most significant catalysts for unprecedented innovation, leading to talent and job growth, nearby neighborhood revitalization and region-wide economic prosperity.
“Innovation and talent drive the economy, and there are many great Central Indiana organizations focused on creating the best ecosystem to stimulate this kind of growth,” said Betsy McCaw, president of the 16 Tech Community Corporation, the governing body of 16 Tech. “A place-making strategy focused on talent growth, innovation and entrepreneurship serves not only to attract talent to the region but provides tremendous opportunities for development of talent and visible reasons for talent to stay in the region.”
16 Tech is one of the largest place-making opportunities in Central Indiana. It’s an innovation community, purpose-built to attract the best talent to collaborate, create and commercialize new ideas across a spectrum of advanced industries, including life sciences, technology, advanced manufacturing and the arts. Its master plan stresses density and proximity of people and places, creating the ideal environment for talent to work side-by-side, share resources and knowledge and unleash creativity by responding to the way innovation occurs today ─ in open environments where collaboration occurs naturally. The innovation community’s anchor tenant, the Indiana Biosciences Research Institute (IBRI), sets the bar for the kind of collaborative innovation that is expected to happen at 16 Tech.
As development progresses over the next 10 to 20 years, new jobs of all skill levels will become available. Plans call for a Phase 1 build-out over the next 10 years with more than 2,600 jobs associated with that initial development. Of those jobs, 61 percent are expected to be entry-level and middle-skills jobs, while the remaining 39 percent will be high-skill jobs.
Ideally located next to one of the largest concentrations of research clusters in Indianapolis’ urban core, 16 Tech is surrounded by 67 percent of the city’s growth industries and flanked by residential neighborhoods steeped in a rich history and community pride – all essential ingredients for successful innovation communities and additional opportunities for collaboration and innovation.
With the goal of attracting talent from around the world, retaining talent and creating new opportunities for business and employment growth, 16 Tech will be a place where people not only come to create and innovate but to live, play and learn. The innovation community will include millions of square feet of custom, open, modern innovation space coupled with retail and housing development, generous green space and walking/biking trails for a community experience.
It will be home to a combination of:
- Flexible research space for advanced industries such as technology, advanced manufacturing, and life sciences
- Creative industries and the arts
- Ample public space
- A mix of housing opportunities
- Retail and office space for entrepreneurs and established companies
Project work began in January 2016 to prepare the 60-acre innovation community for development. The Indiana Biosciences Research Institute, a $360-million independent research institute addressing metabolic disease and poor nutrition, expects to begin construction of 75,000 square feet of research and office space in late 2016.
The Indiana Biosciences Research Institute (IBRI) is an independent, non-profit applied research institute focused on discovery and innovation targeting cardio-metabolic diseases and poor nutrition. Inspired by the State of Indiana and its leading life sciences companies, research universities, and philanthropic community, IBRI’s goal is to build a world-class organization of researchers, innovators, and entrepreneurs that will catalyze scientific and translational activities, resulting in solutions. Initial funding has been provided by the State of Indiana, the Lilly Endowment, Eli Lilly and Company, Dow AgroSciences, Roche Diagnostics, Indiana University Health and the Indiana University School of Medicine. IBRI is looking to expand its partnerships with life sciences companies and philanthropic organizations worldwide to increase the potential for research, discovery, and collaboration.