September 9, 2002
Partnership breaks ground for research park growth
WEST LAFAYETTE, Ind. A $2.2 million development of land earmarked for high-tech companies officially began today (Monday, 9/9) with a groundbreaking for Phase II of the Purdue Research Park.
As part of an economic development partnership between Purdue University, the Purdue Research Foundation and the City of West Lafayette, 50 acres will be readied for market by extending Win Hentschel Boulevard and providing the infrastructure (streets, sidewalks, sanitary sewers, etc.) necessary for 10 commercial lots.
"This project will literally pave the way for the park's existing companies to grow and for other advanced manufacturing, life sciences and information technology companies to move into our area," said Joseph Hornett, the foundation's senior vice president and treasurer. "The potential is there for 900,000 square feet of additional office-lab space and 2,000 more jobs."
The theme of this Discover Purdue celebration was "Back Home Again in Indiana," and the song by that name was sung by a Purdue Musical Organizations quartet.
"The song focuses on visions of Indiana's great rural legacy. But today we are building a new heritage based on technology and economic development," said Purdue President Martin C. Jischke. "Our efforts are aimed at reducing the number of graduates who leave the state in search of jobs, wishing they were back home again."
To retain Purdue graduates, Indiana must stimulate economic growth in the state's high-tech sector in order to attract and retain businesses, said Sonya Margerum, mayor of West Lafayette.
"Many high-tech companies are finding it extremely advantageous to locate or relocate closer to discovery pipelines like Purdue," Margerum said. "By expanding and enhancing the research park, we're sending out a welcoming message to enterprises interested in settling near Purdue expertise and innovation."
The foundation's investment in the development is being supplemented by tax increment financing funds.
One of the facilities already planned for construction following the park's Phase II infrastructure development includes a center that will enable Purdue to blend pharmaceutical education and drug manufacturing. Two alumni, Allen and Lee Hwa Chao, donated $5 million to make Purdue one of a handful of universities allowed to make drug products for human consumption.
Upon completion, the project will feature high-speed Internet access, a four-acre lake, a large commons, spacious parking lots and numerous walkways that will connect to the area trail system.
The park currently encompasses 619 acres about two miles north of campus. Almost 150 acres have been developed with approximately 1 million square feet owned or leased by more than 100 companies. Many of these companies are developing Purdue-licensed technologies in the largest university-affiliated incubation complex in the country. In addition, the park's Innovation Center and the privately funded Vistech 1 facility serve companies that have moved beyond the incubation stage.
"Discover Purdue" is the theme for a yearlong invitation to learn about Purdue University its leadership and its future potential for economic development, research and education.
Writer: Jeanine Phipps, public relations director, Purdue Research Park, (765) 496-3133; email@example.com
Sources: Joseph Hornett, (765) 494-8642
Martin C. Jischke (765) 494-9708
Sonya L. Margerum, (765) 775-5100
Related Web sites:
A publication-quality photograph is available at ftp://ftp.purdue.edu/pub/uns/white.expansion.jpeg.