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Medically Technology Firm Stryker Expands Salt Lake City, Utah Facilities

10/16/2017
Stryker, a global leader in medical technology, will expand in Salt Lake City, adding up to 540 jobs, $16.9 million in new state revenue and an estimated $100 million in capital investment in Utah.

The company’s current location in Salt Lake City manufactures neurovascular products, and the expansion will increase the product portfolio to include orthopedic, spinal and endoscopy product manufacturing.

The expansion will also increase research and development operations, employing many engineers, and will host a medical device physician training and certification program. Stryker, which consistently broadens its medical product portfolio and services, will continue to put Utah on the map as a life science hub.

“Stryker has been operating in the Salt Lake City area since 2011. During that time, we’ve benefited from the talented workforce and first-rate education, research, and healthcare facilities in the area,” says Mark Paul, President of Stryker’s neurovascular division. “We are excited to continue our expansion of Stryker’s operations and partner with state and local government in the future.”

The company may earn up to 20 percent of the new state taxes they will pay over the 10-year life of the agreement in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) tax credit rebate. As part of the contract with Stryker, the GOED Board of Directors has approved a post-performance tax credit rebate not to exceed $3,393,272. Each year as Stryker meets the criteria in its contract with the state, it will earn a portion of the total tax credit rebate.

“Stryker has cemented itself as a leader in global innovation and medical device manufacturing,” said Theresa Foxley, President & CEO of the Economic Development Corporation of Utah. “With their continued expansion in Utah, Stryker adds to an already recognized and established life sciences and medical device manufacturing hub.”

“World-class companies like Stryker elevate Utah’s life science industry in the global market,” said Val Hale, Executive Director of GOED. “We are grateful for Stryker’s continued investment in the community and look forward to the many economic opportunities it will provide.”

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