Incubating jobs: university research parks stimulate state economy.

• Author: Hornett, Joe
• Position: VIEWPOINT

THE ASSOCIATION OF University Research Parks reports that nearly 5,000 companies and organizations, many in biotechnology and information technology, employ about 350,000 full-time U.S. workers in university-based research parks.

With a growing economic impact of more than $30 billion, research parks sharpen the vision of technology-based economic development at both the state and local community levels. Indiana's universities contribute greatly to this national platform of economic growth.

The 725-acre Purdue Research Park in West Lafayette has the largest university-affiliated business incubation complex in the country. It is home to more than 150 companies, with 95 being technology-related. The park employs more than 3,000 professionals at an average annual salary of $58,000.

In addition, a recent Battelle study shows every job in a North American research park generates 2.5 additional support jobs in its respective community.

Building on the success of the Purdue Research Park, the Purdue Research Foundation established the Purdue Technology Center in Merrillville. In the past three years it has become home to about 20 companies and recently announced its expansion. The center was established with the support of U.S. Rep. Pete Visclosky, who secured federal funding for the facility's construction and initial operating costs. The center also is a partnership with Holladay Properties.

Now two other technology centers in southeast Indiana and Indianapolis are under construction and due to open within the next six months. These new centers, also in partnership with Holladay, will follow the successful model set in Merrillville.

The Indiana Economic Development Corp. helped to lay the groundwork for the success of these centers. The IEDC named the Purdue Research Park in West Lafayette as the state's first certified technology park. In addition, the IEDC supports many of its startup companies with 21st Century Fund investments to help them get a strong foundation and create job growth in the state.

Another factor that supports these incubators is the...