Smiths Medical, an Arden Hills-based medical device maker, plans to move its headquarters to Plymouth, Minnesota. The company will receive $877,133 in funding from the Minnesota Job Creation Fund.
The Minnesota Job Creation Fund is a pay-for-performance program that provides funding to businesses after they meet certain criteria, including minimum requirements for job creation and private investments. Under the program, businesses must create at least 10 full-time jobs and invest at least $500,000 to be eligible for financial assistance. Along with moving more than 400 current workers to the new Plymouth location, the company said it will create 162 jobs.
The funding will help the company pay for $7.54 million in tenant improvements and other capital investments at an existing office building at 6000 Nathan Lane N. in Plymouth. Smiths Medical said moving to that site will enable the company to consolidate its headquarters and non-manufacturing staff under one roof.
“Smiths Medical’s expansion in Plymouth will help the company improve productivity, cut costs and support its additional growth,” said Minnesota Department of Employment and Economic Development Commissioner Katie Clark Sieben. “We congratulate them on their success and are grateful for their commitment to growing their business in the Twin Cities.”
Smiths Medical, a subsidiary of London’s Smiths Group PLC, manufactures and sells drug-infusion pumps and consumable medical products like catheters and needles to hospitals and surgical centers around the world. The business also sells a range of medical products for the military and veterinarians. Smiths Medical has operations in more than 30 countries and sells medical products in about 120 international markets.