Indiana's economic development efforts should get a big boost in 2007 with the opening of the new Indianapolis International Airport. The centerpiece of the $974-million project is a terminal building designed by St. Louis-based architectural firm HOK. Site work is under way and construction of the terminal will begin in 2005.

The Boilermaker Tradition

Purdue University President Martin Jischke is one of the state's most vocal advocates of investing in the state's economic development. He says the state leads the nation in too many negative measurements, including the largest drop in per capita income between 1965 and 2000.
        "These kinds of statistics suggest a need for change in Indiana's approach for shaping the economy," Jischke says. He qualifies his assertion by noting the state is moving in the right direction with the tax changes and the emergence of a number of broad-based coalitions aimed at promoting investment in the state. Development of technology centers across the state is another plus, he says.
        "First, we are changing and improving the quality of education our students are receiving," Jischke says. "We are paying more attention to entrepreneurship. The evidence is clear that many of our top graduates are going to other states. The types of jobs they have prepared for are not here in large numbers. One way to solve this is to create these types of enterprises. We have seen in our research that when these jobs are available, more graduates stay."

See the SITES Indiana Dept. of Commerce www.in.gov/doc Purdue University www.purdue.edu Techpoint www.techpoint.org New Indianapolis Airport www.newindairport.com

        Purdue is the home of several initiatives that figure to power future economic development. These include a $55.4-million nanotechnology center, a $25-million biomedical engineering center and a $15-million bioscience center.
        But perhaps the most ambitious endeavor is Purdue's Advanced Manufacturing Institute, now in the planning stages. Work is under way to raise the startup capital for the project – about $60 million over seven years. The Institute, planned to be self-sufficient, would help develop innovative products with the latest technologies.
        "We've developed a business plan in response to encouragement from our friends in the private sector," Jischke says. "Manufacturing, at 20 percent, is the state's largest sector. We want to keep and grow what we have. The Institute will focus on advanced processes and help create products. It could be a strategically important asset to our state."