Louisville, Ky. will soon be home to an eight-story building dedicated to the creation new of healthcare products and research on the aging population, the New York Times reports.
The building, located in the city’s Nucleus Innovation Park, is expected to serve as an “incubator” for innovative health ideas by including an exhibition hall dedicated to new senior-care technology and practices. A state supported office that offers financial assistance for new companies will also be included in the building.
The New York Times reports:
When it is completed next year, the $38 million building, developed by the University of Louisville with help from the city, will house the offices of assisted care companies and be part of the city’s care for the aging cluster. Tenants will include Signature HealthCare, which moved its headquarters here from South Florida in 2010 to take advantage of $4 million in city income tax credits.
Eileen Pickett, executive vice president of Greater Louisville Inc., the city’s economic development agency, added that the project had an important cultural goal. “We want to help make retirement and aging cool,” she said, without a trace of irony.
Louisville has more than 500 companies that specialize in building and managing assisted living centers, providing health insurance and home health care, designing medical equipment and developing health information management systems. These companies employ more than 20,000 professional-level workers, according to city figures, and form the largest concentration of aging-care companies in the United States.
Many of the largest companies that were founded here—Humana, Atria Senior Living, Kindred Healthcare—and a significant number of smaller businesses oversee internal research groups to develop medicine, equipment, housing designs, specialized foods, care practices, appliances and management techniques aimed at helping Americans add active years to their lives. Many work with researchers at the University of Louisville, which has emerged as a leader in care for the elderly, gerontology and geriatric medicine.
City officials estimated that 20 companies involved in care for the aging are founded in Louisville each year. Nucleus Innovation Park aims to draw more of those companies closer to one another and to the university to foster innovation and commercialization of new products.
Vickie Yates Brown, the president and chief executive of Nucleus Innovation Park, said 70 percent of the new building was already leased.
Read the full article here.
Written by Erin Hegarty