The logo of Medtronic Inc. is displayed at Medtronic Singapore Operations (MSO)
Munshi Ahmed, Bloomberg
Florida gets $14M Medtronic facility
- Article by: STEVE ALEXANDER
- Star Tribune
- April 6, 2012 - 8:17 PM
Fridley-based Medtronic said Thursday it break ground next week on a $14 million, 75,000-square-foot-building that expands the Jacksonville, Fla., headquarters of its "surgical technologies" business.
As recently as last August, Medtronic said it was considering either Jacksonville and a location in Texas for the expansion. To attract the Medtronic expansion the city of Jacksonville offered the company $660,000 in tax breaks, and the state of Florida provided an additional $1.87 million in unspecified funding, Medtronic said.
When completed in 2015, the new building will employ an additional 175 new full-time workers whose average annual wage will be $80,000 a year, or a total of $14 million annually, Medtronic said. The new building will house office space, an auditorium, customer training, and research and development.
Surgical technologies is part of Medtronic's restorative therapies group, and employs 1,500 people in seven offices around the world. Jacksonville is the largest office, with more than 600 employees, Medtronic said.
The surgical technologies business generated $1.1 billion in revenue last year, or 7 percent of Medtronic's $15.9 billion in revenue. It develops products for ear, nose and throat diseases and for cranial, spinal and neurologic conditions.
Steve Alexander • 612-673-4553
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