12/4/2006
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Indianapolis lands more than 900 new life sciences jobs, new tenant for airport maintenance center
Landmark WellPoint deal caps off exceptional 2006 for city’s economy
Indianapolis – Mayor Bart Peterson today joined officials from Indianapolis-based WellPoint, Inc., Gov. Mitch Daniels and representatives of the Indianapolis Airport Authority to announce 900 new, high-tech, high-wage life sciences jobs in Indianapolis.
The 900 new jobs in Indianapolis are part of Wellpoint’s expansion of its growing specialty pharmacy business. The Fortune 500 Company also announced today an expansion of their managed care Medicaid operations, which will create 300 additional new jobs -- most of which will be located within Marion County.
The 900 new pharmacy jobs will be housed at the Indianapolis Maintenance Center (IMC), which was built using city and state incentives and occupied by United Airlines in 1994. The 300-acre site includes a 248-acre structure that houses 12 hangars as well as office, storage and workshop space.
The Indianapolis Airport Authority took possession of the IMC in 2003 after United declared bankruptcy. Since then, the city and the Airport Authority have aggressively recruited tenants to fill the facility.
WellPoint has signed an 11-year lease for approximately 117,500 square feet of space at the IMC, which will house a range of administrative, business and professional positions including: pharmacy technicians, registered nurses, registered pharmacists, business analysts and data analysts. WellPoint will open its new facilities, which will primarily serve as a prescription fulfillment center with more than one million shipments per year, by the end of the first quarter 2007 and will phase in operations throughout the year.
“Today’s announcement is a home run for Indianapolis. Not only are we celebrating the tremendous expansion of a homegrown, industry-leading company and ushering in more than 900 new, good paying jobs – we’re further strengthening our life sciences sector and establishing another great reuse for the former United facility,” Mayor Peterson said. “WellPoint’s commitment caps what has been an exceptional year for our local economy, further establishing our position as the Midwestern leader in job creation and economic development.”
“WellPoint today is delivering more benefits to its members than ever before while helping to increase access to care and hold down the rising costs of health care. The expansion of both our specialty pharmacy division and managed care Medicaid services will further those efforts,” said Larry C. Glasscock, chairman, president & chief executive officer of WellPoint, Inc.
City, state investments. The Airport Authority will provide WellPoint with up to $2.1 million in rent credit to support reconstruction and improvements to the IMC. WellPoint will also receive a property tax exemption for its expansion at the IMC since the property is owned by the tax exempt-Airport Authority.
“The Airport Authority is proud to be part of this landmark deal that further solidifies the commitment of a prominent, locally-based, Fortune 500 company,” said Airport Authority President Lacy Johnson. “WellPoint’s arrival caps off years of hard work by the city and the Airport Authority to bring new jobs and investment to the once-vacant IMC.”
The Indiana Economic Development Corporation (IEDC) will provide a $5 million forgivable loan in return for the company’s commitment to invest approximately $12 million in capital while creating 1,200 new jobs. IEDC also will offer up to $3 million in Economic Development for a Growing Economy tax credits.
“It’s yet another big win for the Indiana economy, one with special excitement because it involves one of our longstanding leading corporate citizens,” Gov. Daniels said. “Creating new high-tech and high-paying jobs of this magnitude will continue to add strength and sustainability to Indiana’s economy.”
2006 in Indianapolis. Today’s announcement capped off an outstanding year of growth and investment in Indianapolis, including major expansions by two of the city’s largest employers and investment by several smaller local businesses, Peterson said.
- Landmark year-end job totals. Through November, city officials have facilitated 33 projects with commitments to create more than 3,600 new jobs and retain 13,905 positions. In 2005, which economic development officials consider to be a very successful year, companies committed to 1,890 new jobs.
- Job growth outpacing the region. The Federal Reserve Bank of Chicago released a report stating that the Indianapolis metropolitan area outperformed other cities and was the only large city tracked to experience job growth from 2000-05. The Brookings Institute also found that Indianapolis has had the highest rate of job growth of 25 major metropolitan areas in the Midwest.
- High-tech job growth. Earlier this summer the Indianapolis Private Industry released findings based on national research that Indianapolis is growing jobs in high-growth industries at a faster rate than state and national averages.
- FedEx. FedEx embarked upon a sweeping expansion at its Indianapolis hub, adding up to 800 jobs, extending its airport lease and adding more than 600,000 square feet to its existing sorting facility.
- Rolls Royce. Rolls Royce committed to create 600 new jobs in advanced manufacturing, research and development and gas turbine engine servicing for civil aerospace, defense, marine and energy markets in Indianapolis.
- New downtown world headquarters. Simon Property Group, the world’s leading developer of shopping malls, opened its new downtown headquarters keeping 800 jobs in the heart of the city.
- Top 10 places in America to start a business or a career. Forbes Magazine ranked Indianapolis as one of the 10 best places in America to start a business or a career. (May, 2006).
- Top 14 “Smart Places to Live” in America. Kiplinger’s ranked Indianapolis as one of the nation’s best cities based on cost of living, housing costs, quality of life, economic vitality and other criteria garnered from a survey of readers. (June, 2006).
- The Conrad Hotel opened a downtown high-rise hotel making it one of only five in the nation.
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