Smiths Medical will receive a state grant to help with renovation expenses associated with its move next year from Arden Hills to a larger facility in Plymouth, state officials announced Wednesday.
The $877,133 grant will come from the Minnesota Job Creation Fund and will help cover a fraction of the improvement costs at the new location on Nathan Lane N. in Plymouth. Renovations should total $7.54 million.
The grant was instrumental in helping Smiths Medical decide not to move to another state, officials said. It had been looking for a larger facility for some time.
In exchange for the grant, Smiths Medical agreed to create 162 jobs at an average wage of $45 an hour. It will also retain and relocate 400 current workers to the new site.
Katie Clark Sieben, commissioner of the Minnesota Department of Employment and Economic Development, said in a statement that the money will help Smiths Medical “improve productivity, cut costs and support its additional growth.”
Smiths Medical is a subsidiary of London’s Smiths Group and generated about $1.3 billion in sales last year. It makes and sells drug infusion pumps, catheters and needles to hospitals, veterinary clinics and the military. Smiths Medical has operations in 30 countries and customers in 120 countries.