Mayor: Fishers Attracts $500M in Life Sciences in 12 Months

Mayor: Fishers Attracts $500M in Life Sciences in 12 Months

Inside Indiana Business

Thursday, November 11, 2021 04:39 PM EDT
Updated: Friday, November 12, 2021 07:42 AM EDT

FISHERS – Fishers Mayor Scott Fadness says the city is well on its way to becoming the “epicenter of life sciences” in the Midwest. Over the past 12 months, the Hamilton County city has welcomed more than $500 million in new, planned investments from healthcare-focused companies. The latest came Thursday when South Korea-based List Biotherapeutics Inc. announced it will invest $125 million to build a manufacturing facility in the Fishers Life Science and Innovation Park, the third company to announce plans to locate there.

“It’s really, really exciting because I think it reaffirms the direction that we’ve been talking about,” said Fadness in an interview with Inside Indiana Business. “We’re closing in on a half a billion dollars of investment in less than 12 months. It’s nothing short of extraordinary for our community. We’re very excited.”

List Bio specializes in biologics manufacturing. The facility will produce microbiomes, a beneficial bacteria used to target a variety of diseases or conditions. It will offer end-to-end manufacturing of products in the pharmaceutical space.

The company is following in the path of two other life sciences firms to place facilities in the business park. Italy-based Stevanato broke ground in September on a 370,000-square-foot plant, a $145 million investment, which will eventually create 230 jobs.

Last October, startup drug manufacturer INCOG Biopharma Services Inc. announced plans to invest $60 million to build its headquarters and a manufacturing plant in the business park. It says it intends to hire 150 people by the end of 2024.

Fadness says there are eight acres left of developable land in the life sciences business park. But he says the growth is happening outside those borders.

“I think it’s not only in that particular industrial park. I think there’s more momentum than that,” said Fadness. “I would keep an eye on Genezen LabsQuantigen. There are a lot of folks that are starting to grow their companies that aren’t even part of this park.”

Fadness says the city is building upon the niche of contract fulfillment and contract manufacturing of pharmaceuticals and life sciences. He says the attraction goes beyond Hamilton County.

“I think we have to look broader in central Indiana. We have a long and rich history of life sciences, both in the research and development and otherwise. And then we also have a long history of manufacturing in the state of Indiana. And I think what has been unbelievably potent for our ability to recruit these companies, is that combination of people who understand life sciences, but also understand how to make things,” said Fadness. “When you put those two together, that’s where you’re seeing this unbelievable growth in this particular industry sector of ours. We think there’s an extraordinary opportunity for central Indiana to truly excel in this area, that grows well beyond the city of Fishers.”

Learn more about the List Bio announcement by clicking here.