Expansion to Boost Ortho IncubatorPosted: Updated:
The head of a northeast Indiana medical device manufacturer says this week's expansion announcement will lead to further benefits by raising the profile of an in-house incubator. Micropulse Inc. Chief Executive Officer Brian Emerick says the Columbia City-based company's Orthovation Center has been a "great launchpad" for startup orthopedic companies. He says the incubator, which provides space, accounting and technical support, has created new customers for Micropulse. October 8, 2013
COLUMBIA CITY, Ind. - Micropulse, Inc., a medical device manufacturer for the orthopedic and cardiovascular industries, announced plans today to expand its operations here, creating up to 100 new jobs by 2016.
"From pharmaceutical to orthopedic leaders, Indiana's sound fiscal policies, low-tax structure and talented workforce continue to be a catalyst of growth and success for life sciences companies like Micropulse," said Governor Mike Pence. "Indiana has developed a comprehensive formula of business-friendly and entrepreneur-friendly remedies that give companies in this sector a competitive edge and are further testament to the state's reputation as the orthopedics capital of the world."
The homegrown-Hoosier company develops and manufactures orthopedic instruments, implants and sterilization cases and trays, as well as incubates orthopedic startup companies in-house. The company will invest $14.3 million to equip and renovate its current 100,000 square-foot facility in two phases through 2017. The project's first phase, which includes equipment installation, is expected to be complete by late next year.
By 2015, phase two of the project will commence, including a 60,000 square foot facility expansion and some renovation. The new expansion will house additional offices and precision machines and will accommodate growth of its core contract manufacturing business and continued support of the startup incubator Orthovation Center.
"We are growing in Indiana for a number of reasons including our talented people, a tremendous infrastructure of suppliers, customers and the availability of future skilled workers," said Brian Emerick, founder and president of Micropulse. "Indiana continues to lead the nation, encouraging companies like Micropulse to grow through numerous pro-business initiatives and low tax rates."
Founded in 1988 in Emerick's garage, today Micropulse employs more than 240 full-time Hoosiers. It has already begun the process of hiring additional skilled machinists, quality engineering and manufacturing engineering positions on an ongoing basis. Interested candidates can apply by visiting www.micropulseinc.com/employment.html.
Named a 2008 Company to Watch and a 2011 Company to Watch Spotlight Award recipient, Micropulse houses and incubates orthopedic startups through its Orthovation Center and also develops innovative orthopedic implants that are available for licensing to other companies.
"We are pleased to support Micropulse's expansion in Whitley County and commend company owner Brian Emerick for his ongoing commitment to our community," said Whitley County Commissioner George Schrumpf. "We greatly appreciate how involved the Micropulse team is in local and regional community and economic development efforts."
The Indiana Economic Development Corporation offered Micropulse, Inc., up to $700,000 in performance-based tax credits and up to $50,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. Whitley County approved additional tax abatement at the request of Whitley County Economic Development Corporation.
Micropulse joins nearly 2,000 life science companies across Indiana, together making a $50 billion overall impact on the state's economy. The Hoosier State ranks third highest in the nation for life science exports, with life science exports totaling $9.3 billion.
Micropulse is committed to being a leader in the medical device manufacturing industry by providing development and manufacturing solutions for complex and demanding instruments, implants, and sterilization cases for all market segments of the orthopedic industry. Our focus is to create more value for our customers through highly skilled people, the latest technology, and by relentlessly cultivating an organization built on our foundational values of quality and integrity. Our success is due to exceptional people working hard together as a team with passion, commitment and a desire for excellence, all based on a foundation of integrity. We appreciate the trust our customers place in us and we look forward to continued growth and the creation of jobs and opportunities for people in Northeast Indiana.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.
Source: The Indiana Economic Development Corp.