Medtronics Invests $6 Million To Expand Two Puerto Rico Production Centers
Area Development Online News Desk (12/19/2013)
Medtronics plans to invest $6 million to expand its two operation centers on Puerto Rico, which will result in creation of 150 jobs during the next 36 months.
"Medtronic's expansion, investment, job creation and technological renovation demonstrate that this administration is fulfilling its commitment to strengthen our manufacturing industry, a sector that produces thousands of high-paying jobs, a vast majority of our exports and a significant portion of our gross domestic product," said Gov. Alejandro García Padilla.
Medtronic, with nearly 40 years in Puerto Rico, introduced new technology to the Juncos facility to produce a sensor that allows for the continuous monitoring of a patient's subcutaneous glucose concentration for up to 6 days with daily re-calibration. This operation will have 100 of the 150 new jobs.
At the same time, the company brought new technologies to the Humacao operation for the manufacture of devices used in procedures for skeletally mature patients with cervical disc disease. The remaining 50 new jobs will go to this operation.
"I want to stress out that Medtronic's expansion is not an isolated event but, on the contrary, the latest of dozens of expansions in the manufacturing industry that have been possible because the Puerto Rico Industrial Development Company is fulfilling our command to use more diligently our Industrial Incentives Act," added García Padilla.
Puerto Rico Economic Development Agency said this is the latest effort led by the government to strengthen different sectors of the economy. For example, the shipping company Crowley recently announced it will invest $405 million and create 100 additional jobs to make Puerto Rico a maritime trade site in the Caribbean.
Also, SNC Technical Services, a military apparel and accessories manufacturer, is in the process of creating 200 new jobs through an investment of more than $3 million.
"These investments, like the one announced today by Medtronic, clearly convey the message to investors that Puerto Rico is a destination that can be trusted and in which they can thrive. Puerto Rico has many challenges ahead. Of them all, job creation and sustainable economic development is the most pressing and the one we are devoting our greatest efforts," the Governor said.