Medtronic asks for $2.5M to expand Jacksonville ops

Medtronic Xomed is asking for $2.5 million in financial incentives from Jacksonville and the state of Florida to expand its operations in that city. The move will allow it to create 175 jobs with an average wage of $80,000 per year. The device giant currently employs 600 people there, according to the Florida Times Union.

If the effort proves successful, the city would put forward $660,000, and the state would provide $1.87 million. The company's office in Jacksonville serves as the headquarters for the surgical technologies division of Xomed.

Medtronic is also looking at Fort Worth, TX, as a possible place to expand. The company also has a surgical technologies facility in that area.

The planned expansion comes during a year in which the devicemaker said it would be cutting up to 2,000 jobs in a restructuring effort to ensure long-term growth.

- get more from the Florida Times Union

Suggested Articles

Sherlock Biosciences teamed up with Cepheid to help develop its CRISPR-based molecular diagnostic tech in oncology, infections and the coronavirus.

The spine surgery company ATEC has moved to acquire Paris-based EOS imaging, makers of FDA-cleared scanners and 3D orthopedic planning software.

Digital molecule designer Insilico Medicine has launched a new preclinical research program focused on treatments for brain cancer.