IHIF Announces Plan to Create a Roadmap for Indiana's Life Sciences Industry

“This initiative will help communities to leverage their existing assets to attract new business and jobs to the state,” said Mike Brooks, IHIF president and CEO. “It will help us to determine the type of investments we need to be making in our state in order to maintain our position as the premier location for the life sciences industry.”

The initiative is being funded by a combination of monies from utilities, communities, as well as support from the Indiana Economic Development Corp.

“The life sciences are a rapidly growing and important sector of our state’s economy,” said Nathan Feltman, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. “This project will allow us to take a national leadership role in defining our capabilities and capacity for this high-growth, high-tech industry.”

Specifically, IHIF will work with local communities to review their life science assets and make specific recommendations on an appropriate strategy to guide each community’s attraction, retention, and organic growth opportunities.

With information collected from around the state, assessments and strategies will be developed based on larger geographic regions. Finally, an overall statewide strategy tying together all of the critical life science issues throughout the state will be developed.

“We are not aware of any other state that has tied asset mapping and strategic planning together like this,” added Brooks. “At the end of this process we will have a comprehensive roadmap that will put Indiana and our communities ahead of the competition. It’s an exciting time and we are looking forward to getting started.”

In addition, IHIF will develop a comprehensive database of companies, universities, researchers, and hospitals in Indiana with expertise that can assist in the advancement of Indiana’s life science economy.

About IHIF

The Indiana Health Industry Forum (IHIF) is a not-for-profit, private sector organization with members that represent a private/public alliance of manufacturers, healthcare providers, suppliers, educational institutions, service providers and government officials. Its mission is to create an environment where Indiana is a premier location for the creation and growth of health industry enterprises. To learn more, please visit www.ihif.org or contact IHIF at 317.278.9970.

 
Indiana Statewide Strategic Planning Initiative

The Indiana Health Industry Forum (IHIF) is a not-for-profit, statewide membership organization representing companies in the health and life sciences industry.  IHIF is undertaking a broad based asset mapping/strategic planning initiative intended to position Indiana as a premier state for the growth of the industry.

 
Objectives:

1) To develop a comprehensive database of companies, universities, researchers, and hospitals in Indiana with expertise that can contribute to the advancement of Indiana’s life science economy.

2) To provide communities in Indiana with an assessment of their life science strengths and a tailored strategy for business retention, attraction, and the promotion of organic growth.

3) To identify critical and strategic issue areas for the statewide industry.

4) To be able to link appropriate communities, companies, and individuals with a set of initiatives that will advance Indiana’s life science economy.

5) To increase membership in the Indiana Health Industry Forum

6) To position IHIF as the lead organization representing the life science industry in the state of Indiana.

Scope of the project:  It is expected that the statewide strategic planning project will unfold in three phases and involve interaction with communities, companies, and interested parties.  

In Phase I, IHIF will work with individual communities across the state to identify a local champion for the project, bring interested parties together at the local level, agree to a memorandum of understanding outlining the responsibilities of participation in this project, and carry out a cataloging of assets.  Communities will be grouped into 10-12 strategic regions.

In Phase II, a consulting organization will provide a written assessment of a region’s asset base and make specific recommendations on an appropriate strategy for the region’s attraction, retention, and organic growth opportunities.