March 2005

Purdue caps Indiana’s high-tech corridor with tech center in Lake County

William Strong
Vice Chairman, Morgan Stanley
Investment Banking Division
Chicago, IL

Chicago business leaders would be wise to watch a growing success story fueled by Purdue University in northwest Indiana. Investment bankers, venture capitalists and entrepreneurs might be surprised with the creativity – not to mention the mounting success – of our Hoosier neighbors.

The Purdue Technology Center of Northwest Indiana – the Purdue Research Park’s 48,000-square-foot business incubation satellite – is the region’s new vehicle for economic development. The technology center, south of Chicago off Interstate 65 at Merrillville, offers a supportive environment that small startup companies need. Already seven have signed contracts and as many as five more are in line. And they've only just begun.

When supporters of Indiana's Lake County joined Purdue and the charter companies for the center’s opening in January, the traditional ribbon cutting seemed like a victory celebration. And it was. The new center is the northern capstone of the high-tech corridor Indiana is building between Indiana University, Indianapolis, Purdue and now Chicago's front door.

Knowledge-based companies are attracted to Indiana’s educated work force, Purdue and its West Lafayette, Ind.-based research park. The Purdue Research Park – the largest of its kind in the country – just a few months ago was rated the top university-based research park in the nation.

Investors around the country are taking notice. Many of the companies at the Merrillville site were lured from other states. And the Purdue Research Park – already home to 100 companies – itself just landed an engineering design company for Sikorsky helicopter. That's as many as 300 new jobs to add to the 2,500 already at the park.

How did all this happen?

In part, it's the product of a Chicago native, Martin Jischke. The son of a grocer and a graduate of Proviso High School, Jischke went on to become a professor of thermal dynamics – a true rocket scientist. When he became president of Purdue in 2000, he set about turning that university into the engine for Indiana’s economic development. He ignited his faculty to transfer ideas to the marketplace and charged the Purdue Research Park with incubating the new businesses to maturity.

Jischke didn't stop there, though. Next, he enlisted the support of Rep. Peter Visclosky, D-Ind., who represents northwest Indiana. They found that their visions matched, and in five minutes they formed a partnership.

Rep. Visclosky secured nearly $7 million in federal funding for construction and operating costs for the new center. Purdue provided the land and the know-how of its research park. Then, the congressman himself helped recruit several of the companies to the Merrillville center.

Vision, cooperation and hard work were the victors – for Indiana and for Chicago.

Purdue News Service: (765) 494-2096; purduenews@purdue.edu

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