$5 million bond plan approved for life sciences training building

A multi-million dollar life-sciences facility is one step closer to becoming reality, after the Monroe County Commissioners unanimously approved a $5 million bond to help fund the project.

External drawing of the new proposed life sciences
building to be built near Ivy Tech. Rendering courtesy
of Monroe County Commissioners Office.

Blueprints for the building, which will serve as a training facility for local students and local life-science employees, will go out to bidders at the end of the month to see who will build it.

Praised by many as an example of county, city, and private partnership, the Indiana Life Sciences Education and Training Institute could begin to take shape as early as this summer.

"The purpose is to provide training for life science employers," Monroe County Community Development Director Clint Merkel said. "We're projecting between 1,200 and 1,500 jobs to be created in the next five to 10 years. Our primary need is to have a properly-trained workforce."

The institute will be built directly behind Ivy Tech Community College, and the school will help finance the project.

Monroe County's financial part of the obligation will be funded through tax increment financing.

County councilman Charles Newman said he has nothing against improving the life-science industry and workforce in the area, but disapproves of using public dollars to build the facility.

"This money is money looking for a place to be spent," Newman said. "I don't know why the county is purchasing a $5 million building for the state. This should be paid for by the state."

The county isn't paying $5 million, but rather authorizing the sale of bonds to raise the funds to help pay their share of the project.

Ivy Tech-Bloomington Chancellor John Whikehart said the project was not a gift to his college.

"This is an investment in our community," Whikehart said. "Citizens across the state are making a contribution. This isn't just an investment in brick and mortar, it's an investment in the hopes and dreams of our students and workers."

The proposed 25,000 square-foot facility would allow local life-science companies like Baxter Pharmaceuticals and Cook Inc. to train workers already hired, as well as those preparing to enter the workforce.

BioConvergence Chief Scientific Officer Jeff Schwegman said the facility will offer additional training to college graduates that will tune their skills for the jobs that specific life science businesses have to offer.

"We've got a trained workforce," Schwegman said. "We've got IU, Purdue, IUPUI. That's where the training center comes into play. It will teach you all the things you didn't learn in school. For our business, we need these kinds of people with this kind of training."

Bloomington Economic Development Corp. Director Ron Walker praised the project as an important investment in the community.

"It's a fantastic economic development project," he said.

Merkel said the bond plan will now to go to the Indiana Department of Local Government Finance which will hear the issue on April 26.

After that, Merkel said, new design schematics will be sent out to bidders, to see who will actually get to build the facility.