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Purdue Research Park nears capacity

July 9, 2011

It’s almost time to pull out the “no vacancy” sign at the Purdue Research Park near Indianapolis International Airport, with the recent arrival of a new lab testing unit.

Ithica, N.Y.-based Advion BioServices employs about 50 people at its center providing early-stage bioanalytical services, with a focus on contract work for Eli Lilly and Co.

Advion invested more than $6 million to equip nearly half the research park facility, or about 22,000 square feet.

“This move will bring the park’s 55,000-square-foot facility to near-capacity,” said Joseph Hornett, senior vice president, treasurer and chief operating officer of the Purdue Research Foundation.

Purdue has 14 tenants in the Indianapolis research park.

Advion is seeking to capitalize on a high demand for early-stage bioanalytical services for pharmaceutical and biotechnology companies.

The Indiana Economic Development Corp. offered the company up to $650,000 in performance-based tax credits and as much as $30,000 in training grants. The city of Indianapolis is providing additional training funding and property tax abatement.

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