MiraVista to Receive Economic Incentives from IEDC for Expansion

The Indiana Economic Development Corporation (IEDC) offers economic incentives to MiraVista to support the company’s expansion plans. This includes $275,000 in tax credits and $50,000 in training grants. Funding will be used to hire additional employees and expand MiraVista’s corporate headquarters and diagnostic laboratory in Indianapolis.

MiraVista Diagnostics, a developer of diagnostic tests for fungal diseases, announced plans today to expand its operations in central Indiana, creating up to 31 new jobs by 2021.

“Ranked No. 2 in the nation for worldwide exports, Indiana has quickly established itself as a global leader in life sciences thanks to companies like MiraVista,” said Elaine Bedel, president of the Indiana Economic Development Corporation (IEDC). “As a state, we’re committed to fueling our future with growth in the life sciences industry, providing the business-friendly environment and skilled workforce companies like MiraVista need to scale up their operations and create good jobs for Hoosiers.”

The Indianapolis-based company, which processes over 100,000 fungal infection tests annually, will invest more than $5.3 million to expand and equip its headquarters at 4705 Decatur Blvd., doubling the size of its current facility to 48,000 square feet. Expected to be operational in December 2019, MiraVista will grow its on-site infectious disease diagnostic laboratory, which will allow the company to diversify its testing services to other diseases and scale up the R&D and production of in-vitro diagnostic devices. The company will break ground on the expansion later this month.

To accommodate its growth, MiraVista, which currently has 44 full-time employees, will begin hiring in 2019 for customer service representatives, laboratory technicians, research scientists and sales and marketing associates. New positions are expected to offer salaries above both the state and Marion County average wages. Interested applicants may view open positions and apply at www.miravistalabs.com.

“The city of Indianapolis and Decatur Township have been great places to grow and provide diagnostic testing services both nationally and globally,” said Dr. Lawrence Joseph Wheat, founder of MiraVista. “As the second largest exporter of life sciences products in the U.S., only behind California, it’s been a tremendous source of pride to contribute to Indiana’s robust research and life sciences industries. The state and city continue to demonstrate a strong commitment to attracting and keeping businesses and talent here in Indiana.”

MiraVista was founded in 2002 by Dr. Wheat, whose infectious disease research contributions resulted in the development of the first histoplasmosis antigen test in 1986. Family owned and operated, the company serves the medical and healthcare sectors in the U.S. and Canada, processing antigen and antibody detection tests for Coccidioides (associated with Valley Fever), Aspergillus, Histoplasma, Blastomyes and Cryptococcus. MiraVista offers same-day testing, prompt response, fast shipping and direct access to the laboratory’s team of experienced infectious disease specialists.

In 2017, MiraVista was awarded a $582,312 Phase 1 research grant from the National Institutes of Health (NIH) as part of the Small Business Innovation Research (SBIR) program, and worked with the Indiana Procurement Technical Assistance Center (PTAC) and Elevate Ventures to secure a $50,000 SBIR matching grant. Indiana PTAC, which is committed to helping Indiana small businesses compete for and win government contracts, offered counseling and application assistance to MiraVista, while Elevate Ventures, Indiana’s venture development partner, distributed the matching funds from the state.

“The concentration of regional commerce in the life sciences sector makes Indianapolis a perfect location for MiraVista Diagnostics to grow and succeed,” said Indianapolis Mayor Joe Hogsett. “With the progress of projects like the 16 Tech innovation district on the near west side, Indianapolis is investing in the future of research and innovation. We’re excited that MiraVista Dignostics is part of this momentum.”

The IEDC offered MiraVista up to $275,000 in conditional tax credits and up to $50,000 in training grants based on the company’s plans to create 31 new jobs by 2021. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis will offer a six-year real property tax abatement with approval from the Metropolitan Development Commission and per the recommendation of Develop Indy, a business unit of the Indy Chamber. These city incentives are based on the company’s plans to create 22 new jobs, along with 53 retained jobs by 2022.

Companies like MiraVista are contributing to a strong and growing life sciences industry in Indiana. According to BioCrossroads and the Indiana Business Research Center, Indiana is the second largest exporter of life sciences products in the U.S. at $8.2 billion in total exports. More than 1,600 life science companies operate in the state, supporting more than 55,000 Hoosier jobs with average wages of nearly $95,000 annually.

About MiraVista Diagnostics
MiraVista Diagnostics, LLC (MiraVista) specializes in development of diagnostic tests for serious fungal diseases including aspergillosis, candidiasis, coccidioidomycosis, (also called Valley Fever), cryptococcosis and histoplasmosis. The company processes more than 100,000 diagnostic tests per year at its onsite CLIA accredited clinical laboratory and it is ISO 13485 certified to design, manufacture and distribute in vitro diagnostic test kits for fungal diseases. MiraVista Diagnostics is headquartered in Indianapolis and was founded in 2002 by Dr. Wheat, MD, whose research team developed the first antigen test for diagnosis of histoplasmosis in 1986 and the first antigen test for diagnosis of coccidioidomycosis in 2007. To learn more about MiraVista, please visit www.miravistalabs.com or call 866-647-2847.

About IEDC
The Indiana Economic Development Corporation (IEDC) leads the state of Indiana’s economic development efforts, helping businesses launch, grow and locate in the state. Governed by a 15-member board chaired by Governor Eric J. Holcomb, the IEDC manages many initiatives, including performance-based tax credits, workforce training grants, innovation and entrepreneurship resources, public infrastructure assistance, and talent attraction and retention efforts. For more information about the IEDC, visit www.iedc.in.gov.