The Virginia-based regenerative medicine company will create up to 127 new jobs in Hendricks County, IN by the end of 2023.
LifeNet Health, a global provider of life sciences and regenerative medicine solutions, will invest more than $18M to expand its operations to a new facility in Hendricks County, IN. To support its growth, the company has already created 45 new jobs in Indiana and plans to grow its team up to 127 employees by the end of 2023.
“The surgeons and patients we serve demand unique capabilities,” said Rony Thomas, president and CEO of LifeNet. “Establishing this biologics logistics center represents a commitment of excellence to our customers and partners, as well as their patients.”
The Indiana Economic Development Corporation (IEDC) offered LifeNet Health up to $1.25M in conditional tax credits and $100,000 in training grants based on the company’s job creation plans. The incentives are performance-based, meaning the company is eligible to claim incentives once employees are hired. The town of Plainfield will consider additional incentives at the request of Hendricks County Economic Development Commission.
“It’s a day of celebration as we welcome another growing, innovative company to Indiana,” said Elaine Bedel, president of the IEDC. “LifeNet Health is in great company here, joining an ecosystem of more than 1,750 life sciences firms that are developing life-enhancing and life-saving solutions. I’m confident the state’s skilled workforce and talent pipeline will contribute to LifeNet’s growth and continued ability to serve patients.”
LifeNet Health provides a variety of transplant solutions from organ procurement to new innovations in tissue-implant technologies and cellular therapies. The company will establish and equip a 70,000-square-foot biologics logistics center in Plainfield. The new facility, which is now operational, will complement LifeNet Health’s existing locations on both the East and West coasts, ensuring it can meet the growing need for tissues and cells to support both surgical patient care and biomedical research. LifeNet Health employs approximately 1,200 people across its Virginia, Florida, Washington, California and Vienna, Austria, locations.
According to BioCrossroads and the Indiana Business Research Center, Indiana is the second largest exporter of life sciences products in the U.S. at $10.2B in total exports in 2018. Together, more than 1,750 companies support more than 56,000 jobs with average wages of approximately $97,600 annually.
“The town of Plainfield is incredibly pleased to be the home for this new expansion of LifeNet Health,” said Robin Brandgard, Plainfield Town Council President. “We have one of the largest and best maintained industrial business park areas in the Midwest region and are internationally known as a center for logistics excellence, and LifeNet Health’s expansion is a big step in our growing life sciences industry.”
SOURCE: LifeNet Health