Precision Medical Technologies, a contract manufacturer of orthopedic implants and instruments, plans to expand its operations in North Manchester, Indiana. The company plans to create up to 60 new jobs by 2022 in Wabash County.
The company, which already has facilities in Kosciusko and Noble counties, will invest nearly $5 million to expand its operations, purchasing and renovating a 9,000-square-foot manufacturing space at 400 Beckley Street in North Manchester.
The site will house CNC machinery and related equipment to support the company’s new operations for disposable surgical instruments, and the company's current manufacturing implants and reusable instruments operations will continue at its existing sites in Warsaw and Rome City, Indiana.
Renovations are underway, allowing the company to be fully operational in the new facility and to launch into the disposable instrument market at the beginning of 2018.
"We at Precision Medical Technologies are looking forward to establishing our third manufacturing facility in Wabash County and are excited to take advantage of a competent and available workforce, proximity to our supply base and significant opportunities for ongoing technical training," said Kurt Kamholz, President of Precision Medical Technologies.
"The community of North Manchester has been instrumental in assisting us in finding a location to meet both our current and future expectations for a successful operations facility. We look forward to continuing to operate in Indiana, a location that continues to provide manufacturers with a well-trained and stable workforce to support business growth."
The IEDC offered Precision Medical Technologies up to $430,000 in conditional tax credits and up to $45,000 in training grants based on the company’s job creation plans. These incentives are performance based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. In addition, the town of North Manchester will consider additional incentives during the town council meeting on December. 6 at the request of Grow Wabash County.
"Indiana's reputation as the orthopedics capital of the world is made possible because of growing companies like Precision Medical Technologies," said Elaine Bedel, President of the Indiana Economic Development Corporation. "By leveraging our sound fiscal policies and pro-growth business environment, Indiana delivers the resources and the people that companies need. We look forward to witnessing Precision Medical Technologies' success."
Precision Medical Technologies currently employs more than 140 associates at its two locations in Indiana. The company plans to begin hiring for engineering, quality assurance, finishing, scheduling and CNC machinists positions for the North Manchester facility at the beginning of 2018.