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Life Sciences Company Expanding in Indiana

BioStorage Technologies, Inc., a provider of biomaterials storage and distribution, will invest more than $6.1 million to expand its operations in Indianapolis, Indiana, according to state commerce officials. The company plans to create 125 new jobs over the next three years with the project, which will involve renovating a 40,000-square-foot cold storage facility near the Indianapolis International Airport, adjacent to the company's current facility. "Being headquartered in Indianapolis has contributed greatly to the success and growth BioStorage is experiencing today," says John Mills, M.D., Ph.D., the company's CEO. "Indiana has a vibrant and diverse bioech and life science community and outstanding logistical support. Furthermore, the state's business, academic, and government support is unrivaled, making the decision to expand our operations here obvious." The state has offered BioStorage Technologies up to $1.1 million in performance-based tax credits and up to $93,500 in training grants contingent on job creation; the city will also support property tax abatement for the company. Hiring for the new positions is expected to begin immediately.

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