Banks seeks to make northeast Indiana a hub of defense innovation
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe defense and aerospace sectors represent a multi-billion-dollar industry in Indiana, but Third District Congressman Jim Banks (R-IN) believes the state could see significantly more business. Banks hosted the second annual Northeast Indiana Defense Summit last week in Fort Wayne, attracting business, academic and military executives from around the country.
“The vision of our summit is introducing some of the leading innovators from Silicon Valley, from around the country, to Fort Wayne. We’re rebuilding as defense budgets are higher than they’ve ever been in U.S. history.”
In an interview on Inside INdiana Business, Banks said the defense industry is a key economic player in the region.
“We’re talking about thousands of jobs just in the Fort Wayne area,” he said. “You’ve got Raytheon, General Dynamics, L3Harris making weather satellites. Ultra Electronics in my hometown of Columbia City makes sonobuoys. All of the important work that’s being done here is is important. It’s innovation.”
Banks noted it is important to stay on the cutting edge of technology.
“As we prepare for a conflict with our great adversaries like China, Russia, Iran, North Korea, the defense industry has to change, too, with innovation to compete with our biggest adversary, that being China,” he said. “The big idea of [the summit] is we make things in northern Indiana. Bring your innovation here, and we’ll make it better than anyone in the country in a more more cost efficient ways.”
Indiana’s defense scene has caught the eye of billionaire Palmer Luckey, the man who founded virtual reality headset company Oculus as a 19 year old.
Luckey is also the founder of artificial intelligence defense contractor Anduril Industries, which last week announced the acquisition of Purdue Research Park startup Adranos, which makes solid rocket motors and rocket fuel.
Luckey said acquiring Adranos was an easy decision, particularly because of its history at Purdue University, but it isn’t the first time that Anduril has done business in the Hoosier State.
“We’ve actually been working with a lot of other companies that are in the Indiana defense base,” he said. “There’s a reason that companies are here…the talent, the labor pool. It’s a really friendly climate business wise, regulatory wise.”
Banks said it was exciting to have Luckey attend the summit to not only talk about his company’s innovations, but the investments he’d like to make in Indiana.
“We want more of that. We want more of that right here at home.”