Printer Friendly

Biomet expansion plan to create 150 jobs.

Biomet Inc. plans to invest $40.5 million in a Warsaw, Ind., expansion that would create 150 high-paying jobs by 2018.

The company's annual payroll will increase by nearly $11.3 million after the additional workers are hired, Warsaw's Journal Gazette newspaper reports. The jobs are projected to pay an average of $75,000 annually and will be added in stages, though paperwork prepared by the company did not specify the type of jobs being created.

Richard Fradette, Biomet's global vice president of finance, presented the project on March 13 to the Kosciusko County Council, which unanimously voted to move the request for incentives to the next step in the process, according to the Kosciusko Economic Development Corp.

A public hearing will be held in April. The council will vote on the request sometime after the hearing, the Fort Wayne, Ind., newspaper claims. Biomet officials said the project will move forward only if county and state tax breaks and other incentives are approved. Securing such approvals largely has been a formality for employers with large investment plans, especially for those looking to expand existing operations. The Indiana Economic Development Corp. in August 2010 approved nearly $3 million in tax credits and training grants to help Biomet create 278 jobs at that time. Kosciusko County approved additional incentives on the $26 million investment.

Biomet's new project calls for spending $40.5 million on capital improvements, including building renovations and 3-D printing and optical scanning technology.

The project also includes upgrades to Biomet's Global Center of Excellence, a program that allows surgeons interested in introducing a new product, technology or technique to explore the idea with experts.

George Roberson, president of the Kosciusko Economic Development Corp., is enthusiastic about the prospect of a significant investment by a major employer. "We're pretty happy about it," he told the Journal Gazette.
COPYRIGHT 2014 Rodman Publishing
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2014 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:News Front
Author:Arrowsmith, Ranica
Publication:Orthopedic Design & Technology
Date:Mar 1, 2014
Words:307
Previous Article:Metal on metal hip corrosion is industry-wide problem.
Next Article:NuVasive posts solid gains for Q4 and fiscal 2013.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters