Danek Settles In At New Location
July 28, 2016 at 4:25 p.m.
Medtronic Sofamor Danek Mfg., formerly at 100 Publishers Drive, Winona Lake, is now moved into its new facilities on the northeast corner of the intersection of U.S. 30W and CR 150W, near Warsaw.
Danek's new building includes an estimated $20-million orthopedic hardware manufacturing and production facility consists of 150,000 square feet on 25 acres of land, which is designated as an economic development area.
Warsaw Mayor Ernie Wiggins said earlier of Danek's new facilities: "It's not going to affect Warsaw residents from the tax standpoint."
Property taxes are paying for public improvements, he said. "We're foregoing the property taxes for a period of years," and Warsaw residents will feel no negative effect because of Danek's new facilities. "In fact, it's a plus because it keeps those people here," Wiggins said.
Don Tosby, Medtronics Sofamor Danek vice president and general manager, said the nearly 300-employee company completed its move to its new location at the end of September.
"Really, we're just doing the finishing touches," Tosby said, "finishing up landscaping."
"We do plan on having a grand opening," Tosby said Monday. "(But it) hasn't been scheduled."
Tosby said he's "absolutely" excited about Danek's move. "We're really excited about the additional space we have to expand our internal production."
Warsaw, Kosciusko County and community members all have been very supportive, he said, and "we're very appreciative of all the support. "We're glad to be a part of it," Tosby said.
Warsaw's City Council previously approved a special ordinance authorizing the city to issue the economic revenue bonds to Danek. The bonds were set up over a 20-year period and are not to exceed $2.5 million.
Randy Rompola, attorney from Baker & Daniels, confirmed earlier with the city council that the bonds are not an obligation of the city. Rompola said Danek's tax revenues are the only revenues that will pay the bonds.
Attorney Richard Hill also said earlier at a city council meeting that Danek's investment will ultimately be the security behind the bonds.
"What this resolution does is pledge the tax increment that will be generated from that site in repayment of the bond," Rompola said. "The tax increment is nothing more than an increase in taxes that will result from the property."
City planner Jeff Noffsinger said earlier it will take approximately 20 years before Danek's bond is paid off. [[In-content Ad]]
Medtronic Sofamor Danek Mfg., formerly at 100 Publishers Drive, Winona Lake, is now moved into its new facilities on the northeast corner of the intersection of U.S. 30W and CR 150W, near Warsaw.
Danek's new building includes an estimated $20-million orthopedic hardware manufacturing and production facility consists of 150,000 square feet on 25 acres of land, which is designated as an economic development area.
Warsaw Mayor Ernie Wiggins said earlier of Danek's new facilities: "It's not going to affect Warsaw residents from the tax standpoint."
Property taxes are paying for public improvements, he said. "We're foregoing the property taxes for a period of years," and Warsaw residents will feel no negative effect because of Danek's new facilities. "In fact, it's a plus because it keeps those people here," Wiggins said.
Don Tosby, Medtronics Sofamor Danek vice president and general manager, said the nearly 300-employee company completed its move to its new location at the end of September.
"Really, we're just doing the finishing touches," Tosby said, "finishing up landscaping."
"We do plan on having a grand opening," Tosby said Monday. "(But it) hasn't been scheduled."
Tosby said he's "absolutely" excited about Danek's move. "We're really excited about the additional space we have to expand our internal production."
Warsaw, Kosciusko County and community members all have been very supportive, he said, and "we're very appreciative of all the support. "We're glad to be a part of it," Tosby said.
Warsaw's City Council previously approved a special ordinance authorizing the city to issue the economic revenue bonds to Danek. The bonds were set up over a 20-year period and are not to exceed $2.5 million.
Randy Rompola, attorney from Baker & Daniels, confirmed earlier with the city council that the bonds are not an obligation of the city. Rompola said Danek's tax revenues are the only revenues that will pay the bonds.
Attorney Richard Hill also said earlier at a city council meeting that Danek's investment will ultimately be the security behind the bonds.
"What this resolution does is pledge the tax increment that will be generated from that site in repayment of the bond," Rompola said. "The tax increment is nothing more than an increase in taxes that will result from the property."
City planner Jeff Noffsinger said earlier it will take approximately 20 years before Danek's bond is paid off. [[In-content Ad]]