Medical device maker Medtronic creating 700+ jobs through $50M expansion
Following a $50 million expansion, medical device manufacturer Medtronic announced — accompanied by Gov. Pedro Pierluisi — the creation of more than 700 new direct and indirect jobs in the biosciences sector.
In addition to the 575 new direct jobs (225 in the first phase and 350 in the second), another 200 jobs will be created in the construction and installation phases of the new machinery that the company based in Juncos will buy.
Government support, through the incentives granted by the DDEC, has “been key to the development of this expansion project, which will begin its second phase of construction next week,” Pierluisi said.
“Medtronic’s new expansion is part of our commitment to continue supporting manufacturing, which represents 48% of our economy,” the governor said.
The company received incentives under the Special Fund for Economic Development (FEDE), which it will use to create and retain jobs, and buy machinery and equipment necessary for the manufacture of a new line of products for diabetes management, said Department of Economic Development and Commerce Secretary Manuel Cidre, who was also present for the announcement.
“The second phase of this expansion allows the transfer of part of the active sensor to Puerto Rico. This way, the manufacturing of all the next generation glucose sensor product is consolidated in Juncos,” said Cidre.
“This transfer, in turn will generate an increase in the workforce of production line employees, generating a multiplier effect on our economy,” he added.
“This operation demonstrates the capacity of our pharmaceutical industry to attract more production lines to Puerto Rico, so that we can continue to increase the reserves of medical equipment and medicines in the American territory,” Cidre added.
Rolando Vázquez, vice president of operations of Medtronic Puerto Rico, explained that the inauguration of the new manufacturing facility “is part of the commitment we made to economic development with the government in 2019 to continue expanding Medtronic’s operations in Puerto Rico.”
The first phase of the project entails converting 11,000 square-feet of an existing office area into a manufacturing area.
“This area will be dedicated to manufacturing the new generation of the continuous glucose monitoring sensor. This innovative new product manufactured by Puerto Rican hands gives you a more complete picture of your glucose levels, resulting in better decisions about your lifestyle and better glucose control,” said Vázquez.
In addition to the new manufacturing space, Medtronic also inaugurated a photovoltaic panel farm that will generate approximately 7.3 million kilowatt hours (KwHr) of energy annually.
“This translates into an equivalent reduction of 5,371 metric tons of carbon dioxide derived from fossil fuels. This way, the company reduces its consumption of fossil energy, in addition to contributing to caring for the environment,” said Vázquez.
Since 1974, Medtronic — which has operations in Juncos, Villalba, Ponce and Humacao — manufactures catheters, pacemakers, medication pumps, as well as devices to treat several health conditions such as diabetes, diseases, and spinal and cervical trauma.