Research park adding 3rd building
BYLINE: JOE LARSON
The Purdue Research Foundation is getting ready to start work on a third business incubation building.
"Basically, we're out of business space," said Joe Hornett, senior vice president and treasurer of the foundation.
The new structure, which will be called Purdue Technology Center II until a naming donor can be found, will likely house between 20 and 30 companies, Hornett said.
The type of businesses the foundation wants to attract are in the fields of life sciences, information technology and advanced manufacturing and logistics.
Businesses also must have a tangible connection to Purdue, such as using a Purdue-licensed technology or hiring Purdue graduates, Hornett said.
{}WHERE
At the northwest corner of Win Hentschel Boulevard and Kent Avenue.
{}WHEN
Ground work is expected to begin by the end of November, and construction on the building itself should start in the spring.
{}COST
Between $14.5 million and $15 million
{}SIZE
About 110,000 square feet
{}EMPLOYEE SALARIES
The average employee at a business in the one of the incubator buildings makes about $58,000 a year.