December 12, 2018 The Future of Innovation

What16 Tech is an innovation district on the near west side of Indianapolis developed to facilitate collaboration among innovators and entrepreneurs in the life sciences, technology and advanced manufacturing and engineering fields in an urban live-work-play-learn environment.

WhereThe initial phase of the 16 Tech Innovation District is bounded on the north by 16th Street and on the south by 10th Street between Indiana Avenue and White River/Fall Creek in the historic Riverside neighborhood and within the Indiana Avenue Cultural District.

HowInnovation in the 21st Century happens when corporations, institutions and workers can easily transfer knowledge and ideas. It happens in open, shared spaces where ideas and people connect.

An Innovation District DefinedInnovation districts are geographic areas where leading-edge anchor institutions and companies cluster and connect with start-ups, business incubators, and accelerators. Districts are also physically compact, transit-accessible, and offer mixed-use housing, office, and retail (as defined by Brookings Institution).

www.16Tech.com

16 Tech Connects Central Indiana’s Assets

16 Tech is ideally located in the heart of Central Indiana’s research and business corridors, providing easy access to companies, researchers and a diverse knowledge base.

Specifically, 16 Tech is located on 50 acres adjacent to the nation’s largest medical school, research and university partners and near more than 60 percent of Central Indiana’s advanced industries, including Cook Regentec, an incubator/accelerator focused on regenerative medicine.

16 Tech will build a new, iconic bridge over Fall Creek to serve as a physical connection between 16 Tech, the research assets along 10th Street, neighborhoods and downtown Indianapolis.

Purposefully Built to Foster Collaboration

16 Tech is being purposefully designed as a place where researchers, entrepreneurs, established companies and start-ups converge to innovate.

The first phase of 16 Tech will include up to 3 million square feet of work space that supports companies at a variety of stages, including:

• Office and lab space

• Incubator and accelerator space

• Makerspace

Knowing that innovation occurs outside the traditional 9-5 workday, 16 Tech also is creating a 24-hour environment where people can live and play with:

• Housing

• Retail

• Hotel

• 15 acres of green space

• 3 miles of biking and walking trails

• Access to the White River and Fall Creek

New Residential and Innovation Space: Flexible Research, Office, Lab and Collaboration Spaces Existing Green Spaces

New Public Green Spaces Existing Buildings: Adaptive Re-use as Innovation Space

Existing Buildings

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16 Tech Makerspace.

Existing Buildings

Attracting and Retaining Talent in Central Indiana

In its first phase of development (through 2030), 16 Tech expects to generate nearly 3,000 jobs of all skill levels in the innovation district.*

These jobs will support:

• Office positions

• Research and laboratory work

• Hotel and apartment management

• Retail and restaurant management

• Other amenities

The interior of the first building at 16 Tech will include lab space, open office space and collaboration space for its multi-industry tenants.

Percentage of Employment by

Sector

Business Services10% Science, Tech &

Engineering45%

Information Technology

45%

Percentage of Employment by

Skill Level

High Skill39%

Mid Skill38%

Entry Level23%

* TEConomy Partners report: Economic Impact Update for 16 Tech Innovation District Development -- Data and Findings, commissioned by BioCrossroads in 2018.

Building Capacity

When creating an innovation ecosystem, programming and entrepreneurial support are just as critical as physical space. The 16 Tech Community Corporation will sponsor events and programs and partner with organizations to develop entrepreneurial skills, provide scale-up support, facilitate industry-university partnerships and build personal and professional networks.

In addition to events and programming, 16 Tech will provide tenants access to a variety of shared resources including:

• Wet labs and lab equipment for startups

• Advanced industry equipment: 3D printers, CNC lasers

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Funding 16 Tech

The City of Indianapolis has pledged $55 million in Tax Increment Financing for significant infrastructure work that is necessary for construction. City water lines run underneath the 16 Tech property and must be moved, and streets, walking paths and other improvements need to be made to enable development. This clears the way for private investment from developers to construct new buildings.

Additionally, 16 Tech Community Corporation has received funding from Lilly Endowment Inc., Richard M. Fairbanks Foundation and other corporate and individual donors. These donations support the operations of 16 Tech Community Corporation as well as key placemaking features of the district, including a new bridge that connects 16 Tech to the many research assets along 10th Street and downtown Indianapolis.

Construction Timeline

Construction began on Innovation Building 1 in December 2018, and is anticipated to be complete in May 2020. Additional projects, including the Innovation Hub, Residential 1 and Innovation Building 2, are expected to commence in 2020. Infrastructure work, including new roadways, site preparation for the 16 Tech Bridge, open space and biking paths, is ongoing. The first phase of 16 Tech will be completed over the next 10 years.

111 North Meridian Street, Suite 1800Indianapolis, IN 46204www.16tech.com

A view of the anchor research building from the central green.

January 2020

Creating Access and Opportunity for Nearby Communities

A core tenet of 16 Tech is to ensure the economic impact of the innovation district lifts the profile and growth of the City of Indianapolis and fosters greater prosperity for nearby Marion County residents.

Through partnerships with local workforce development organizations, 16 Tech Community Corporation is embarking on a project to identify pathways for residents in the neighborhoods surrounding 16 Tech to expand their career options and share in the district’s success.

In addition, 16 Tech Community Corporation launched a fund to invest in the surrounding neighborhoods. The fund is guided by an advisory committee, which includes residents as well as talent development, community development and educational representatives who have been active in creating programs and initiatives that support the Near West, Near Northwest and surrounding communities.

This advisory committee reviews grant applications and recommends awards to the 16 Tech Community Corporation Board in support of workforce development, neighborhood beautification, education, and quality of life initiatives.

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