IN: Life Science Company Relocating Headquarters to Indiana
27 Apr, 2011
Image via Wikipedia
HYCOR Biomedical, Inc., a manufacturer of diagnostic products for clinical laboratories, announced today plans to relocate its headquarters from Garden Grove, Calif. to Central Indiana, adding 12 jobs by the end of the year and up to 20 jobs by 2013.
This is the second California company to relocate its headquarters to Indiana in the past two years. In 2009, Fleetwood RV moved from Riverside, Calif. to Decatur, Ind., creating 300 new jobs. Additional companies including Beckman Coulter have consolidated operations from California in recent years.
"During tough economic times, Indiana welcomed new jobs from companies consolidating from a couple dozen or more U.S. states and a handful of foreign countries. HYCOR is the latest example of the benefits of maintaining fiscal discipline and a low-cost business environment," said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation.
HYCOR entered the diagnostics market in 1984 and currently provides urinalysis, allergy and autoimmune testing products for clinical laboratories, hospitals and doctors' offices worldwide.
"Given Indiana's central location, the exceptional life sciences talent based here, as well as the economic incentives being offered by the state, we believe this is the ideal time for HYCOR to relocate as our business continues to grow," said Richard Aderman, president and chief executive officer of HYCOR.
The Indiana Economic Development Corporation offered HYCOR up to $640,000 in performance-based tax credits based on the company's job creation plans. HYCOR is currently leasing space at 3021 East 98th St. in Indianapolis while it finalizes a long-term location in Central Indiana in the coming months.
HYCOR is the second life sciences company to move into Central Indiana in just more than one month. In March, Advion BioServices Inc. announced plans to establish a $6.1 million laboratory at the Purdue Research Park at Ameriplex, adding 49 immediate jobs and up to 66 jobs by 2015.
About HYCOR Biomedical, Inc.
Founded in 1981, HYCOR is a global manufacturer and marketer of in vitro diagnostics products. A series of acquisitions since its founding have expanded the company's presence into urinalysis, allergy and autoimmune products used in clinical laboratories, hospitals and doctors' offices worldwide. Among its products, HYCOR markets the HYTEC™, KOVA® and AUTOSTAT™ brands. The company is focused on delivering products that provide the highest value to clinicians through innovation, reliability and customer service. For more information, please visit www.hycorbiomedical.com .
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov .