Purdue Research Foundation Receives 3 International Awards for Economic Development

Business Wire, Oct 23, 2008

WEST LAFAYETTE, Ind. -- The International Economic Development Council awarded the Purdue Research Foundation with three 2008 IEDC Excellence in Economic Development Awards at its annual conference in Atlanta.

The IEDC is the largest professional association of economic development practitioners in the world, with members in the United States, Europe, Australia, Canada, New Zealand and other nations.

"The IEDC is one of the most well-regarded and prestigious economic development organizations in the world," said Joseph B. Hornett, senior vice president, treasurer and COO of the Purdue Research Foundation. "To be recognized by this organization in one category is impressive, and to be honored in three separate categories is high praise."

Entries from the Purdue Research Foundation were recognized in three categories:

* Entrepreneurship, for an entry titled "Purdue Research Parks: Dynamic Arenas Where Entrepreneurs Thrive." The foundation was recognized for its work in recruiting and retaining high-tech startup companies. The Purdue Research Park in West Lafayette, Ind., has 157 companies employing about 3,100 people at average annual salary of $54,000.

* Partnerships with Educational Institutions, for an entry titled "Purdue Research Foundation and Purdue University: A Partnership for Economic Success." The foundation was recognized for the results of its ongoing partnership with Purdue University, particularly in technology transfer and startups created through Purdue technologies. In the fiscal year from July 2007 to June 2008, the foundation reported 248 invention disclosures, 31 issued patents and 10 new companies formed from Purdue University-licensed technologies.

* Technology-Based Economic Development, for an entry titled "Discovery, Development and Delivery: Technology-Based Economic Development." The foundation was recognized for the support it provides to moving technology from discovery in the laboratory to commercialization through a variety of programs and services designed to assist new businesses.

The Purdue Research Foundation manages the Purdue Research Park system, which has Indiana business incubators in West Lafayette, Merrillville and New Albany. A fourth business incubator will open in Indianapolis in 2009.

Other winners of the 2008 International Economic Development Council Awards include the Research Triangle Park in North Carolina, Regional Development Corp. in New Mexico, GIS Planning Inc. in San Francisco, City of Riverside, Calif. and the Louisiana Economic Development in Baton Rouge, La.