A Warsaw-based orthopedic product development company has announced plans to expand operations. Nextremity Solutions Inc. says it will invest more than $4.5 million to transform a shell building at the Warsaw Technology Park into its headquarters and create up to 111 jobs by the end of 2024. The Indiana Economic Development Corp. says the building will allow the company to consolidate its product development and manufacturing operations under one roof.
Nextremity Solutions is partnering on the project with West Hill Development, which originally developed the shell building.
“This is such an exciting time for our team at Nextremity Solutions as we expand our capabilities to create, manufacture and deliver innovative solutions to our strategic alliance partners and to other orthopedic companies,” Rod Mayer, chief executive officer of Nextremity Solutions, said in a news release. “The shell building provides the ideal location for us as we create a synergistic partnership with Lakeland Technology going forward.”
Construction is expected to be complete by April 2021 and the company plans to begin moving employees to the new facility before the end of this year. Nextremity Solutions currently employs 24 workers and says it will begin hiring for development and manufacturing positions as needs arise.
The expansion comes two months after Nextremity Solutions acquired Lakeland Technology Inc., a contract manufacturer for the medical device industry also located in Warsaw. Financial terms of the deal were not disclosed.
The IEDC has offered Nextremity Solutions up to $1.6 million in conditional tax credits and up to $100,000 in training grants, which the company will not be eligible to claim until Hoosier workers are hired for the new jobs. The Warsaw Redevelopment Commission and the Warsaw Common Council will consider additional incentives.