Last Friday a quite significant and sobering business conference took place at the Orthopedic Capitol Center on the campus of Grace College.
Kudos to the Indiana University Kelly School of Business and BioCrossroads, Indiana's think tank for life science development in the state, for putting on a quality program designed to examine Warsaw's preeminent status in the world's medical device industry.
Thank you, Times-Union, for reprinting some of the conclusions of BioCrossroads report. The economic significance of the medical device industry in Warsaw reaches beyond this community to the area's region, the state and our country's gross domestic product. Understanding the unique history and present state of orthopedics is not, however, what kept me on the edge of my seat.
There are circumstances, forces, coming into focus that will have a profound effect on the industry and for readers of this paper, impacts to the Warsaw community and region. A concentrated, critical mass of technology and labor has evolved in this community to allow a global reach of business unlike any other place in the world. Sustaining this condition in the future is much less certain. A number of strategic initiatives were outlined that could prove vital to the region's future health.
Barriers to implementation exist. Companies are in fierce competition, as it should be. A sentiment of status quo. Shared community vision. Preparing to support a level of cultural diversity atypical for this size town and demographic location. Somewhere between strategic thoughts and what can we do today, right now, perplexed my mind.
Citizens should be aware there is a $40 billion excise tax amendment on the device industry in congress now. Congressional opinion that this industry has had it too good for too long is shared by enough votes that it may pass. We should be flooding our representatives with e-mails and letters. That's something each of us can do. Venture capital representatives from the state said there are start-up companies who want to locate here right now. But it is not so easy.
If there was ever a time for our county commissioners and the city to collaborate and provide real estate for an industrial park it is now. A new start-up orthopedic company already in business here is struggling for infrastructure support in the community. I don't know all the solutions. The recommendation to establish a not-for-profit entity whose purpose is to lead the region in resource development and community focus for those issues that transcend individual company interests sounds like a good idea to me.
