ELKHART, Ind. -- Bayer has announced a yearlong initiative to attract a significant new employer to Elkhart, Ind., by offering approximately one million square feet of laboratory space for $1. The unusual effort, known as "Develop Northern Indiana," supports the community's ongoing economic development efforts while "selling" office and manufacturing space that would otherwise be torn down.

The property sale is part of a Bayer reorganization of its Northern Indiana facilities. Using its national and international network of offices to identify firms that have an interest in the property, the company hopes to attract a new employer by mid-2003.

For more information, visit www.bayer.com.