Abbott, a global health care company, plans to establish a new medical device production site along U.S. Highway 31 in Westfield, Indiana.
With its growth, the company plans to create more than 450 new jobs in Indiana over the next several years. Abbott is investing at least $37.6 million to launch a new manufacturing site for its Structural Heart business, constructing a 120,000-square-foot facility in the NorthPoint Industrial Park on U.S.-31 in Westfield.
Once complete, the new space will house production of Abbott’s MitraClip transcatheter mitral valve repair system, which is also manufactured in Menlo Park, California, enabling the company to increase production and better serve its global customers. Construction is set to begin later this year, with the space expected to be fully operational by the end of 2021.
"We're pleased to expand our U.S. presence by building an additional MitraClip manufacturing facility in Indiana,” said Mike Dale, Vice President of Abbott’s structural heart business. “This facility will help in our goal to improve the health of people around the world and meet the needs of physicians and patients battling structural heart disease.”
The Indiana Economic Development Corporation (IEDC) offered Abbott up to $3.5 million in conditional tax credits and up to $1 million in training grants based on the company’s plans to create more than 300 jobs by the end of 2024. These tax credits are performance-based, meaning the company is available to claim incentives once Hoosiers are hired.
The IEDC also offered up to $750,000 to the community from the Industrial Development Grant Fund to support infrastructure improvements to the new site. The city of Westfield approved additional incentives, and Duke Energy has approved additional incentives to offset a portion of the energy costs.
"Indiana's economy continues to fire on all cylinders, and global companies like Abbott are taking notice," said Governor Eric J. Holcomb. "Operating in a global economy, Abbott had endless options, and I am incredibly grateful they chose the Hoosier state to not only grow their business and create hundreds of careers, but also improve the lives of people around the world.”
"This is a great day for the city of Westfield,” said Westfield Mayor Andy Cook. “We have worked hard to attract diverse businesses. The addition of a Fortune 500 health care company, like Abbott, is a big win not only for Westfield but for the state of Indiana. We look forward to welcoming the Abbott team to Westfield and showing them the caliber of people and community they are joining."