Benefits for Hoosiers
IU is asking the legislature to invest in the life sciences economy. Legislative support will provide a solid investment in Indiana's future, promising Hoosiers economic opportunity and better health.
Indiana has an unprecedented opportunity to create a state economy populated by new high-wage, high-growth, and high-margin businesses. Today, Indiana lags behind nearly every other state in economic growth: we ranked 46th in the nation in 2006, according to the Bureau of Economic Analysis. Manufacturing is the largest contributor to the growth of Indiana's economy, but we must build on this base. How? The life sciences.
Capitalizing on Indiana's strengths and building a life sciences economy will take the vision and leadership of legislators and others in state government, who are being asked to invest $80 million in the future of Indiana. But the people who will benefit the most from this investment are the residents of Indiana.
Hoosiers need this investment. It represents better health and more wealth for our citizens, many of whom are struggling. As the state's economic development plan reports, Indiana's economic performance has slipped and its per capita income — the money earned by Hoosiers — has fallen below the national average. Hoosiers are losing jobs, filing personal bankruptcies, and losing homes to foreclosure at higher rates than people in other states. Life science investments are investments in a fast-growing, high-paying economic sector that builds on our manufacturing base.
Life sciences research also is the key to dealing with Hoosiers' health issues. That means better treatments for diseases such as cancer and diabetes, which affect Indiana's citizens at higher rates than most states. It also means developing better ways to help people stop smoking, eat better, and exercise more in a state where smoking and obesity rates are among the highest in the country.
The Indiana Life Sciences Initiative will bring added resources to the IU School of Medicine's campuses across Indiana, including educating more physicians to handle the state's growing health care needs. The initiative will also boost research efforts at IU, giving scientists the resources they need to make new discoveries and take these discoveries to the marketplace. It is time for Indiana to seize this opportunity to turn life sciences breakthroughs into business, and for Hoosiers to enjoy unparalleled levels of personal and economic health.
