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Washington, D.C. – Congressman Pete Visclosky announced today that he has secured $2 million for the expansion of the Purdue Technology Center of Northwest Indiana (PTCNWI), bringing the total amount Visclosky has secured for the expansion to $2.231 million and enough to complete the project. With the tech center nearly filled, Visclosky’s support of the expansion will provide the resources necessary to continue to attract and retain high-technology jobs that are crucial to the success of Northwest Indiana.
“Since opening in the beginning of 2005, the Purdue Technology Center of Northwest Indiana has been a magnet for cutting-edge research and development,” said Visclosky, who is the Chairman of the House Appropriations Subcommittee on Energy and Water Development. “The expansion of the incubator will offer opportunities for more technology companies, more good-paying jobs and more economic diversification that will improve the quality of life for everyone in Northwest Indiana.”
The $2 million in funding comes from the FY 2008 Energy and Water Appropriations Bill, which was approved by the Appropriations Committee today and will be considered by the House early next week. Earlier this year, Visclosky announced that he had secured $231,000 for the PTCNWI expansion as part of the Financial Services Appropriations Bill. Funding for the expansion will be made available after the legislation is signed into law.
Visclosky has a history of supporting the high-tech facility, having secured the $6.9 million necessary for its construction. The tech center opened in January of 2005 with seven high-tech residents. Today, according to the Purdue Technology Center of Northwest Indiana, the facility is home to 14 high-tech firms, engaged in pharmaceutical sciences, fuel-cell technology, and security technology industries. In addition, the facility has six affiliate companies.
“The Purdue Technology Center will reach 90 percent occupancy by the end of this year and is projected to be completely full by the end of the second quarter of 2008,” said Joseph B. Hornett, senior vice president, treasurer and COO of the Purdue Research Foundation. “Congressman Visclosky’s support of the expansion has been a cornerstone in providing the necessary resources to complete the expansion of our center in Northwest Indiana.”
Expansion plans include an additional 12,000 square feet to provide space for the recruitment of new firms and the expansion of existing firms within the Purdue Technology Center of Northwest Indiana. In addition to the new area, the center will provide a total of 60,000 square feet for new and expanding companies. Officials of the center anticipated the possible expansion when they planned the technology center, and will be able accommodate the additional square feet upon the existing site.
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