IBJNews

Bioanalytical researcher seeking abatement for new lab

Back to TopCommentsE-mailPrintBookmark and Share

The Metropolitan Development Commission on Wednesday will consider property-tax abatement for Advion BioServices Inc., which plans to collaborate with Eli Lilly and Co. to open a drug-discovery bioanalytical laboratory at the Purdue Research Park of Indianapolis.

Advion, a provider of bioanalytical research and a subsidiary of Ithaca, N.Y.-based Advion BioSciences Inc., is expected to open the 22,000-square-foot lab in mid-May with 49 employees, according to the company’s abatement application.

Advion plans to spend $6.1 million to lease and equip the facility, and is seeking an eight-year abatement to offset costs. MDC staff recommends approval and estimates the company will save $187,290 in personal property taxes over the life of the abatement.

The Indiana Economic Development Corp. offered Advion up to $650,000 in performance-based tax credits and up to $30,000 in training grants based on the company’s job-creation plans. Develop Indy will provide additional training funding.

Advion employees are expected to earn an average salary of $63,000 annually, and the lab could have as many as 66 employees by 2015.

The company will focus on early-stage, drug-discovery bioanalytical services, which evaluate how a potential new medicine is absorbed and metabolized in experimental models. Much of the activities performed at the lab are required for the preparation of a molecule’s entry into clinical testing.

Advion announced its collaboration with Indianapolis-based Lilly in early March.

Lilly will move its own drug-discovery bioanalytical operations to Advion as part of the shift and retain some oversight. About 26 Lilly employees will be affected by the drug maker’s decision, but will have the opportunity to apply for limited jobs within Lilly or for openings at Advion’s Indianapolis lab, a Lilly spokeswoman said last month.

Advion will occupy 40 percent of the 55,000-square-foot research park near Indianapolis International Airport.

Also on Wednesday, MDC is expected to grant final approval of a 10-year personal property tax abatement to Indianapolis-based Genesis Casket Co.

The company plans to invest $16.5 million to open a manufacturing and distribution operation on the city’s far-east side, creating 300 jobs over the next three years.
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. These liberals are out of control. They want to drive our economy into the ground and double and triple our electric bills. Sierra Club, stay out of Indy!

  2. These activist liberal judges have gotten out of control. Thankfully we have a sensible supreme court that overturns their absurd rulings!

  3. Maybe they shouldn't be throwing money at the IRL or whatever they call it now. Probably should save that money for actual operations.

  4. For you central Indiana folks that don't know what a good pizza is, Aurelio's will take care of that. There are some good pizza places in central Indiana but nothing like this!!!

  5. I am troubled with this whole string of comments as I am not sure anyone pointed out that many of the "high paying" positions have been eliminated identified by asterisks as of fiscal year 2012. That indicates to me that the hospitals are making responsible yet difficult decisions and eliminating heavy paying positions. To make this more problematic, we have created a society of "entitlement" where individuals believe they should receive free services at no cost to them. I have yet to get a house repair done at no cost nor have I taken my car that is out of warranty for repair for free repair expecting the government to pay for it even though it is the second largest investment one makes in their life besides purchasing a home. Yet, we continue to hear verbal and aggressive abuse from the consumer who expects free services and have to reward them as a result of HCAHPS surveys which we have no influence over as it is 3rd party required by CMS. Peel the onion and get to the root of the problem...you will find that society has created the problem and our current political landscape and not the people who were fortunate to lead healthcare in the right direction before becoming distorted. As a side note, I had a friend sit in an ED in Canada for nearly two days prior to being evaluated and then finally...3 months later got a CT of the head. You pay for what you get...

ADVERTISEMENT