Biomet Requests Abatement for $51M Project
July 28, 2016 at 4:25 p.m.
By Jordan Fouts-
Council voted in favor of the first step in the abatement process, which will set and advertise for a public hearing.
The four-part investment began with the development of a Global Instruments Center of Excellence, which already is near completion, Richard Fradette, vice president of finance for worldwide operations, told council. Capital investments are expected to total $40.5 million and payroll for 150 new jobs to total $11.25 million, he said.
The investment total for this year is expected to be $8.3 million, with 40 new hires. The company plans to invest $9.3 million in each of the next three years, with 25 to 35 new jobs each year; and $4.3 million in 2018 with 20 new hires, all at an average salary of $75,000.
The project will also see the development of global materials advancement, which includes the integration of additive manufacturing technologies such as 3-D printing; the One Patient Solutions program, which will tailor implants and care plans for patients; and global information systems, which includes consolidating company data centers and implementing enterprise systems management.
Fradette said the project is needed to meet challenges such as price increases and the medical device excise tax. “There are global challenges but there are also opportunities locally and globally,” he said.
He also noted that company growth in the past few years created 280 new positions, which was about 60 to 70 more than expected. The county previously granted tax abatements in 2001, 2006 and 2010.
George Robertson, Kosciusko Economic Development Corp. president, and Councilman Larry Teghtmeyer spoke in favor of the project Thursday.
Also during the meeting, council passed a resolution transferring $300,000 from the rainy day fund to the highway fund, to cover a greater-than-usual expense in snow cleanup this winter. Teghtmeyer said the transfer was recommended by County Commissioners.
Also to cover cleanup costs, council transferred $50,000 from bituminous to contractual services in the highway fund, and made additional appropriations of $15,000 to $125,000 in five highway funds.
Council also made additional appropriations for Problem Solving Court Fee, which received $22,510 in grant money for medical services, drug screens, financial assistance and other expenses for program participants. The new program for drug offender treatment is expected to be self-sustaining.
And council approved a $4,908 transfer in the county sheriff’s department fund to cover the cost of a cruiser involved in an accident.[[In-content Ad]]
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Council voted in favor of the first step in the abatement process, which will set and advertise for a public hearing.
The four-part investment began with the development of a Global Instruments Center of Excellence, which already is near completion, Richard Fradette, vice president of finance for worldwide operations, told council. Capital investments are expected to total $40.5 million and payroll for 150 new jobs to total $11.25 million, he said.
The investment total for this year is expected to be $8.3 million, with 40 new hires. The company plans to invest $9.3 million in each of the next three years, with 25 to 35 new jobs each year; and $4.3 million in 2018 with 20 new hires, all at an average salary of $75,000.
The project will also see the development of global materials advancement, which includes the integration of additive manufacturing technologies such as 3-D printing; the One Patient Solutions program, which will tailor implants and care plans for patients; and global information systems, which includes consolidating company data centers and implementing enterprise systems management.
Fradette said the project is needed to meet challenges such as price increases and the medical device excise tax. “There are global challenges but there are also opportunities locally and globally,” he said.
He also noted that company growth in the past few years created 280 new positions, which was about 60 to 70 more than expected. The county previously granted tax abatements in 2001, 2006 and 2010.
George Robertson, Kosciusko Economic Development Corp. president, and Councilman Larry Teghtmeyer spoke in favor of the project Thursday.
Also during the meeting, council passed a resolution transferring $300,000 from the rainy day fund to the highway fund, to cover a greater-than-usual expense in snow cleanup this winter. Teghtmeyer said the transfer was recommended by County Commissioners.
Also to cover cleanup costs, council transferred $50,000 from bituminous to contractual services in the highway fund, and made additional appropriations of $15,000 to $125,000 in five highway funds.
Council also made additional appropriations for Problem Solving Court Fee, which received $22,510 in grant money for medical services, drug screens, financial assistance and other expenses for program participants. The new program for drug offender treatment is expected to be self-sustaining.
And council approved a $4,908 transfer in the county sheriff’s department fund to cover the cost of a cruiser involved in an accident.[[In-content Ad]]
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