Reveal: Indiana Technology HQ


Inside Indiana Business

D&A’s vision for medical tech space: light filled, dual mechanical and manual ventilation, sun shades and ample greenspace.

NOBLESVILLE – A medical tech and life sciences company based in India has announced plans to establish operations in central Indiana. Panacea Medical Technologies Inc. says it will invest nearly $12 million to build its North American headquarters in Noblesville and create 65 jobs by 2023. The city says the facility will be used for research and development, engineering, and manufacturing radiotherapy machines to diagnose and treat cancer.

The company is set to break ground on the 20,000-square-foot headquarters this summer. The facility will be located along the I-69 corridor at 141st Street and Olio Road in Noblesville.

“We are excited that Panacea chose Noblesville as its headquarters to expand into North America and grow the life science and medical technology industry in our city,” Noblesville Mayor Chris Jensen said in a news release. “This state-of the-art facility creates high quality, high wage jobs for engineers and scientists. These are not just jobs, but meaningful jobs. The work that will be done in Noblesville is going to make people healthier across the globe.”

The city of Noblesville has offered to donate eight acres of city-owned real estate, as well as 10-year tax real and personal property tax abatements for the project. The Noblesville Common Council will consider the incentives at a future meeting.

The announcement comes just four months after Governor Eric Holcomb led an economic development delegation to India, during which he says he met with Panacea officials. 

“We’re so grateful Panacea has chosen to establish its first U.S. facility in Indiana and are excited Hoosiers will be working with this innovative, cancer-curing equipment to improve the lives of patients right here and all across the world,” said Holcomb.

The Indiana Economic Development Corp. has offered Panacea up to a total of $1.1 million in conditional tax credits, which the company will not be eligible to claim until Hoosier workers are hired for the new jobs.

Read moreDownload

More news

Sneak Chic Peek: Preview The Tramont and Meet the Visionary Behind It
September 2022
As one part of the D&A Companies design-and-build team behind the landmark Tramont project coming to the historic Redmont-Highland Park neighborhood, Watts has a vision for the next chapter of elevated residential living.
Kartik Desai's Zen Hamptons Home Is Full of Cost-Cutting Secrets
July 2022
From the road, it looked like an abandoned mobile home. But architect and designer Kartik Desai of D&A Companies and his husband Zane Philstrom, who is the costume and scenery designer for Company XIV in Brooklyn, had a hunch that there was more to it.
New major tenant named for 2222 Arlington Avenue office building
June 2022
Gresham Smith joins Austin, Texas-based tech company Shipshape and Atlas Senior Living as anchor tenants.
Birmingham developer honed in on alternative materials for local projects
June 2022
The demand and need for completed buildings have caused developers to seek out alternatives to get the jobs done in the most effective way.
Women Leaders Of Real Estate: Van-Tuong Nguyen Of D&A Companies On The 5 Things You Need To Succeed In The Real Estate Industry
June 2022
As a part of my series about strong women leaders of the Real Estate industry, I had the pleasure of interviewing Van-Tuong Nguyen.
Real Estate Matters: Kartik Desai, Evan Watts & James McCormick
February 2022
Kartik Desai, Evan Watts & James McCormick of D&A Companies join the podcast to discuss recent projects in Birmingham.
Mountain Brook seen as ‘huge draw’ for potential residents at development near English Village
May 2022
The charming villages of Mountain Brook promise to be “a huge draw” to potential residents at a new luxury residential development planned for Highland Park in Birmingham.
Developers say The Tramont in Highland Park will draw people seeking ‘urban lifestyle’
May 2022
A lot of people want to live in the city of Birmingham, according to one of the developers behind a new luxury condominium project, The Tramont, which is being planned for Highland Park.
The Tramont, a Collection of Birmingham Residences that See Life Beyond
April 2022
Located at 1236 22nd Street South, The Tramont is a boutique collection of luxury condominiums meticulously designed to reflect the craftsmanship and beauty of Birmingham’s architectural heritage.
Condos Return to the Real Estate Spotlight
April 2022
Good news for homeowners planning to downsize, young people looking to jump into the housing market for the first time, or anyone looking for shared amenities and ease of building maintenance: Condos are back.
Luxury condos coming soon to the Highland-Redmont Park Districts
November 2021
Located in the historic Highland-Redmont Park districts, The Tramont, part of D&A Companies, will be the neighborhood’s newest and most elegant condos.
$20M 2222 Arlington office building Redevelopment in Birmingham
November 2021
The New-York based D&A Companies is moving ahead with its plans to break ground on the new office building sometime this month.
D&A Companies to build condo project near Southside
November 2021
D&A Companies plans to make further additions to a mixed use campus it’s planning near Southside.
Shipshape to anchor building at 2222 Arlington Ave., CEO talks plans for new office
November 2021
A former Techstars company with a Birmingham presence is expanding its commitment to the city.
Austin-based Shipshape to move into renovated building in Birmingham
October 2021
2222 Arlington now has two anchor tenants
D&A Companies to move forward on office redevelopment
October 2021
A New York-based development company is moving ahead on the redevelopment of the former headquarters of Bayer Properties near Southside.
Big development proposed in Gardiner
September 2021
A 130-unit Traditional Neighborhood Development called Fall Park received enthusiastic support from the Gardiner Town Board.
Former Bayer Properties HQ to get a major facelift, secures new anchor tenant
March 2021
Remember in the fall of 2019 a red balloon floating on Birmingham’s Southside near Sirote Permutt’s Crescent Building?
Before & After: A Classic NYC Loft Ditches Its ’90s Look for Refined Minimalism
July 2020
D&A, teaming up with RARARA, reimagines a light-filled Chelsea loft.
Hitting the "Magic City": Redmont Park
D&A partners with a veteran Birmingham developer on a mixed-use hotel and residential project in upscale Redmont Park.
© 2022 D&A Development Partners LLC. All rights reserved.