States in the U.S. are competing rabidly with each other for med tech jobs. If you don't believe this, consider some recent news involving Ottobock HealthCare.
The German maker of prosthetic devices is moving its U.S. subsidiary from Minneapolis, MN, to Austin, TX, the Austin Business Journal reported.
Austin gains 110 jobs and a $4.6 million investment that will ready a 40,000-square foot facility for the company in Northwest Austin, the Greater Austin Chamber of Commerce told the newspaper.
But there's a twist: Ottobock didn't get any incentives from Austin prior to agreeing to move, according to documents cited by the Austin Business Journal. But Austin had applied to the city for tax incentives. So we'll see what comes through down the line.
It's a good get for the city. As the article explains, Ottobock makes prosthesis braces and a variety of other medical devices. Launched initially in 1919, the company first opened its North American arm in 1958, and now employs more than 5,000 people around the world.
Ottobock plans to have a temporary space in Austin ready by May, with most of its move finished by the end of 2014, according to the story.
The Minneapolis St. Paul Business Journal reported in January that Ottobock was closing its Minnesota operations and shifting hundreds of jobs to Utah and Texas, affecting about 200 jobs in total. The story noted that Utah was providing tax incentives to enable the job shift.
- here's the ABJ story
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