Greatbatch Medical to invest $17.4 million
Statement issued Thursday:
FORT WAYNE, Ind. (January 27, 2011) – Greatbatch Medical, a division of Greatbatch Inc. headquartered in Clarence, N.Y., announced today that it will expand its manufacturing operations to a 20-acre site on Kroemer Road in Allen County, near U.S. 30 and Sweetwater Sound. The move will result in 76 new jobs for Allen County by 2014 and will retain 105 employees. Greatbatch will invest $17.4 million in the development of the Kroemer Road site.
In 2008, Greatbatch Inc. (NYSE: GB) acquired Precimed Inc., which allowed the Greatbatch family of companies to expand into the more than $20 billion orthopedic market. Greatbatch Medical currently operates the former Precimed facility in Whitley County, Indiana, which specializes in instrumentation for hip and knee replacement and trauma and spine technologies for global customers. This operation will be relocated to an 80,000-square-foot facility in Allen County with construction scheduled to be completed in the spring of 2012.
“With a record number of new deals last year, Indiana’s life sciences sector is on a roll,” said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation.
“Today’s significant investment from Greatbatch is even more proof that Indiana is home to the orthopedics capital of the world.”
“The State of Indiana has long been known for its excellence in the orthopedic industry and Greatbatch Medical is proud to be a part of that legacy,” said Thomas J. Hook, president and chief executive officer of Greatbatch Inc. “Locating this facility in Northeast Indiana provides us with the ability to build upon our skilled workforce and position us for long term growth.”
The Fort Wayne-Allen County Economic Development Alliance compiled a competitive package worth more than $3 million with incentive offers from the Indiana Economic Development Corporation (IEDC), WorkOne Northeast, the City of Fort Wayne and Allen County. The Allen County Council, Board of Commissioners and Allen County Redevelopment Commission will begin finalizing the offers in February.
“We’re pleased to welcome such a high-caliber company bringing high-wage jobs and a considerable investment to our community,” Allen County Commissioner Nelson Peters said. “This project will grow our life sciences cluster and improve our status as a location that is hospitable toward that industry.”
About Greatbatch Inc.
Greatbatch Inc. (NYSE: GB) provides top-quality technologies to industries that depend on reliable, longlasting performance through its brands Greatbatch Medical and Electrochem. Greatbatch Medical develops and manufactures critical technologies used in medical devices for the cardiac, neurology, vascular and orthopedic markets. Electrochem designs and manufactures battery and wireless sensing technologies for high-end niche applications in the energy, military, portable medical, and other markets. Additional information about the Company is available at www.greatbatch.com.
About Greatbatch Medical
Greatbatch Medical is part of the Greatbatch Inc. (NYSE:GB) family of brands. Greatbatch Medical is committed to the design and manufacture of critical technologies used in medical devices for the cardiac, neurology, vascular and orthopedic markets. To learn more about Greatbatch Medical, please visit www.greatbatchmedical.com.
About the Alliance
The Fort Wayne-Allen County Economic Development Alliance began in 2000 as the lead organization for economic development activities throughout the county. We are a not-for-profit organization supported by Allen County, the City of Fort Wayne, the Greater Fort Wayne Chamber of Commerce and the Fort Wayne-Allen County Airport Authority. The Alliance’s goal is to further the base employment of Allen County through business retention, expansion and attraction projects. To learn more about the Alliance, visit www.theallianceonline.com.