Creating an Idea and Innovation Park

16 Tech update

Groundbreaking for the IBRI’s new home kicked off the 10-year development of the transformational 16 Tech Innovation District project to attract and retain talent in central Indiana.

The Advanced Research and Innovation Building takes shape

The 16 Tech Community Corporation and Browning Investments broke ground on the site of the first new building in the 16 Tech Innovation District on Dec. 12, 2018.

Browning immediately began the construction of the Advanced Research and Innovation Building, which is scheduled for completion by mid-2020. The 120,000 square foot, $30 million building anchors the 16 Tech Project.

The large redevelopment project is purposefully designed to encourage collaboration among innovators and entrepreneurs in the life sciences, technology, advanced manufacturing and engineering disciplines, in an evolving and diverse urban environment where people can live, work, play and learn.

VIDEO: Groundbreaking creates excitement

The 16 Tech Community Corporation and Browning Investments broke ground on the site of the first new building in the 16 Tech Innovation District on Dec. 12, 2018.

Collaboration HQ

The Advanced Research and Innovation Building will be the headquarters for the Indiana Biosciences Research Institute (IBRI), the Central Indiana Corporate Partnership (CICP), including its talent and industry initiatives, and for researchers of the newly established Indiana Center for Regenerative Medicine and Engineering, a molecular therapeutics program and technology incubator.

The IBRI will also serve as an accelerator for life sciences and IT startups. The five-story building will eventually be home to more than 400 employees in the life sciences, engineering, technology, renewable energy, advanced manufacturing, logistics, talent development and ag-biosciences fields.

16 Tech’s sizable economic and talent impact

The first phase of 16 Tech is expected to generate nearly 3,000 jobs of all skill levels, according to an updated report from TEConomy commissioned by 16 Tech and BioCrossroads last fall.

The report, The Economic Impact Update for 16 Tech Innovation District Development, builds on a 2015 study that estimated 61 percent of the jobs in the new innovation district will be entry/middle-skill, and 39 percent high-skill, creating opportunities in a variety of industries.

Project construction costs are estimated at more than $500 million over the next 10 years. More at 16tech.com.

Looking ahead

Besides serving as the IBRI’s new home in mid-2020, The Advanced Research and Innovation Building will eventually be home to more than 400 employees in the life sciences, engineering, technology, renewable energy, advanced manufacturing, logistics, talent development and ag-biosciences fields.

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