Indiana has moved into the number one spot for life sciences exports in the country, the result of heavy strategic investments and collaboration that spans industry, education and government.
According to the 2024 BioCrossroads Annual Report, which was released in the spring of 2025, Indiana exported $27 billion in life sciences product last year, surpassing California to take the top spot. The achievement stems from a commitment to building a world-class life sciences sector in the state, with BioCrossroads serving as a facilitator for forward movement.
In a press release about the report, BioCrossroads President and CEO Vince Wong noted that officials drew on the state’s strong capabilities in innovation, manufacturing and logistics to form “partnerships and programs that catalyze economic growth, spark innovation, and ultimately improve health all around the world.”
Key Moves
Momentum was boosted in late 2023 when the federal government announced a tech hub designation for the state from the Economic Development Administration (EDA). The initiative, led by the Applied Research Institute (ARI), provides funding to advance the capabilities that drive economic and job growth. Following the designation, BioCrossroads initiated a roadmap that carved the path for growth in the sector.
In 2024, the organization helped secure Heartland BioWorks as a tech hub with $51 million in EDA funding to support programming from the Bloomington-based hub at the 16 Tech Innovation District.
Meanwhile, pharmaceutical industry giant Eli Lilly continued to build on its success of moving the needle forward in the life sciences sector and contributing billions in capital commitment to research and the production of medicines for obesity, cancer, diabetes and other health challenges. In the fall of 2024, the company announced another move forward in advanced manufacturing and drug development – the creation of the Lilly Medicine Foundry in Lebanon. Expected to be completed in 2027, the facility will strengthen the company’s investment at the LEAP Research and Innovation District to $13 billion, officials report.
Collaboration among government agencies, including the Indiana Economic Development Corporation, and renowned research universities -- Purdue and Indiana University -- was instrumental in attracting new companies and implementing training and education that would support a growing life sciences sector.
A major step forward in those efforts was the announcement of the new IU Launch Accelerator for Biosciences, designed to support existing and attract new human health companies in the state. The incubator will host two programs, the first being a pre-accelerator, a seven-week business operations program for existing industry companies. The second program, LifeTech Accelerator, expected to have its first cohorts in the fall of 2025, will focus on collaboration among life sciences startups and driving additional entrepreneurial activity for the industry in the Hoosier state.
Powerhouse Industry
In just a few short years, the life sciences industry surged in Indiana, becoming an economic engine for the state, contributing over $99 billion, reports BioCrossroads. According to the organization, by 2025, the industry is supporting over 70,000 jobs that span across over 3,200 companies working in areas including pharmaceutical manufacturing, biotechnology, medical device advancements, and advanced health diagnostics.
The $27 billion in life sciences exports from Indiana and the current initiatives in place that promise to drive that number further over the next several years are more than just another trade statistic. It reflects the state’s manufacturing and innovation capabilities that signal an even more impressive life sciences industry in the future.
