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January 23, 2019

5/12/2009
Basic Info About IEDC and Tech Parks
Dee Bonner


The following information about the IEDC and Indiana's CTP Program is from the official website of the State of Indiana

Indiana Economic Development Corporation

The Indiana Economic Development Corporation (IEDC) is the State of Indiana's economic development agency. The IEDC was officially established in February 2005 to replace the former Department of Commerce.

In order to respond to the needs of businesses, the IEDC operates like a business under the direction of Indiana Secretary of Commerce and IEDC Chief Executive Officer E. Mitchell Roob, Jr.

The IEDC is organized as a public private partnership governed by a twelve-member board. The IEDC Board of Directors is chaired by Governor Mitch Daniels.

The IEDC focuses its efforts on growing and retaining businesses in Indiana and attracting new business to the State of Indiana. The IEDC has incorporated all state entities with economic development responsibilities into its organizational structure.

Contact Information:

One North Capitol, Suite 700, Indianapolis, IN 46204

317-232-8800 and 800-463-8081

Fax: 317-232-4146

Incubators and Certified Technology Parks

Indiana strives to support the growth of entrepreneurial companies in the life sciences industry. The state's network of Certified Technology Parks (CTPs) and business incubators offer many resources to growing life sciences companies.

Indiana's CTP program was established to promote the attraction and growth of high-technology businesses, to leverage the intellectual and capital resources of nearby universities, and encourage the development of technology incubators supporting Indiana's entrepreneurs.

The program allows for incremental state personal income and sales taxes generated by businesses located in technology parks to be captured locally and reinvested in the CTP for the development of technology infrastructure.

Many of Indiana's Certified Technology Parks have a strong presence of life sciences companies and organizations. A growing number of CTP incubator and start-up companies foster university and industrial collaboration for major life sciences initiatives and bioscience development.

Indiana gained a new CTP in the past year. Ignition Park, is an 83-acre site in downtown South Bend. The new park, in collaboration with the existing Innovation Park at Notre Dame, will be a future home for research and technology businesses.

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