Arthrex move to add 350 jobs in Florida, gets endorsement from governor

Arthrex's Naples, FL, headquarters--Courtesy of Arthrex

Orthopedics maker Arthrex is planning to increase the employee roster at its Florida manufacturing site, and at least one person is on board with this initiative: the governor of Florida. Gov. Rick Scott recently endorsed the company's move as he pushes for med tech innovation to drive growth in the state.

Arthrex will add 350 new jobs at its Ave Maria, FL-based manufacturing facility as part of its previously announced growth initiative. In 2012, the company kicked off a $47 million expansion that included 218,000 square feet of building space for its manufacturing and finishing sites.

The plan was also meant to create 600 jobs over the next 5 years, the company said at the time. Arthrex created 260 new jobs in 2015, Scott said, as quoted by Naples Daily News, setting the stage for more expansion in the year to come.

"You have built an unbelievable company," Scott said to Arthrex CEO Reinhold Schmieding and a crowd of employees at a recent meeting at the company's HQ. "We have success all across our state but I'm not sure there are as many companies that have done what Reinhold has done and what all you have done right here at Arthrex."

The thank-you isn't one-sided, though. Naples, FL-based Arthrex has gotten a boost from Scott's business-friendly policies, which make it easier for companies to roll out new machines and equipment in the state.

"We appreciate your policies and your positive impact, like the sales tax exemption on manufacturing equipment," Schmieding said, as quoted by Naples Daily News. "This exemption gives Arthrex the confidence to once again invest millions of dollars into manufacturing, as a result to add even more jobs in Florida. Let's keep growing jobs for years to come by making this exemption permanent."

Arthrex's latest manufacturing push comes a few years after it cut the ribbon on its $25 million manufacturing plant in Florida. The company's Ave Maria site then included 190,000 square feet of space and housed 500 employees, 200 of which were new hires, the Naples Daily News reports. More employees and space can only help Arthrex, as it competes with bigger names on the block including Smith & Nephew ($SNN) for a share of the orthopedics market.

- read the Naples Daily News story