Indiana has solidified its position as a leader in the life sciences industry, setting a national benchmark in 2024 by becoming the number one state for life sciences exports.
According to the newly released BioCrossroads Annual Report, the state achieved a record-breaking $27 billion in product exports, surpassing California.
In total, the life sciences sector contributed more than $99 billion in economic activity to Indiana last year.
“Indiana’s rise to the number one spot highlights the strength of our innovation, manufacturing and logistics capabilities within our life sciences community,” said Vince Wong, president and CEO of BioCrossroads.
BioCrossroads, a key catalyst for this success, played an instrumental role through strategic partnerships and talent development initiatives. Among its accomplishments was securing the Heartland BioWorks Tech Hub, an Economic Development Administration (EDA)-designated project. Supported by $51 million in EDA funding, the Tech Hub launched pivotal programs, including Heartland BioWorks BioTrain and BioLaunch. These initiatives are enhancing biopharmaceutical manufacturing training and providing support to emerging life sciences startups at Indianapolis’ 16 Tech Innovation District.
The report also highlighted Indiana’s designation of BioCrossroads as its Industry Talent Association for health care and life sciences. This recognition underscores the organization’s role in developing new career pathways through apprenticeships and partnerships with employers, educators and training providers. With over 70,000 jobs supported by the sector across 3,253 establishments — an increase from the previous year — and an average annual wage of $148,000, the industry’s impact on Indiana’s workforce and economy is profound.
The sector’s momentum is further reflected in the $260 million in venture capital investments across 36 deals, more than 100 FDA approvals and 926 new patents recorded in 2024. These milestones were complemented by expanded innovation efforts, such as the IU Launch Accelerator for Biosciences, the AXIS Mentoring Program and the Odyssey Group, which foster collaboration and growth within Indiana’s life sciences ecosystem.
BioCrossroads also elevated Indiana’s prominence through thought leadership events, including its first sold-out Life Sciences Summit and FrameWORX sessions that explored topics like nuclear medicine and workforce development.
“Indiana’s life sciences sector continues to grow because of the way we work together,” said Dan Peterson, chair of the BioCrossroads board of directors.
For the full report, visit BioCrossroads.com.
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Contact Health & Environmental Reporter Hanna Rauworth at 317-762-7854 or follow her on Instagram at @hanna.rauworth.
