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

AI-based drug molecule designer XtalPi has secured a mammoth funding round totaling $318.8 million, from global banking and tech investors.

LabCorp has licensed a blood test from Genfit designed to identify patients with risky cases of the liver disease NASH.

Philips has launched a compact, single-use device for physically clearing potentially dangerous blood clots lodged in the arms and legs.