IN: Orthopedic Company to Establish New Noble County Facility
13 Sep, 2011
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Precision Medical Technologies, Inc., a medical device manufacturer, to open a new facility, creating up to 60 new jobs by 2015.
The company, a contract manufacturer of orthopedic implants and instruments based in Warsaw, Ind., will invest $4.36 million to lease, renovate and equip a 30,000 square-foot facility in Noble County. Precision Medical cited the available and skilled workforce as a top deciding factor in its decision to expand in Rome City.
"As Precision Medical looks to expand, we're glad they have chosen to grow in northern Indiana," said Mitch Roob, Secretary of Commerce and chief executive officer of the Indiana Economic Development Corporation. "Our strong fiscal condition and high quality workforce continue to put the Hoosier state in a favorable position to compete for new investment."
Precision Medical, which currently has 75 employees in Indiana, plans to begin hiring new machinists, CNC programmers and administrative associates in Rome City next year. The company's investment and additional employment is planned for new business expansion and not business being transferred from the Warsaw facility.
"Having experienced the work ethic and local support in this area in the past, we are excited to be locating in Noble County and specifically Rome City," said Kurt Kamholz, president and co-owner of Precision Medical. "We want to thank the Indiana Economic Development Corporation, Noble County Economic Development group and the Rome City town council for their support in this process."
Founded in 1993 in Warsaw, Ind., Precision Medical is a contract manufacturer that specializes in spine, extremities, trauma and sport medicine devices and serves customers across the United States.
The Indiana Economic Development Corporation offered Precision Medical Technologies, Inc. up to $450,000 in performance-based tax credits and up to $35,000 in training grants based on the company's job creation plans. The town of Rome City has granted property tax abatement.
"We are very excited about Precision Medical Technologies choosing Rome City as its new home," said Leigh Pranger, Rome City town manager. "We welcome the opportunity to work with this business in making sure its transition to Rome City is a success. The jobs it offers will be a boost to the area economy and will help Noble County work toward diversification of our workforce."
Precision Medical's announcement comes just a few days after Cruiser RV, a lightweight travel trailer manufacturer, announced that it will expand its operations in nearby LaGrange County. The RV manufacturer will invest more than $850,000 to lease and equip a new facility and projects to create up to 200 new jobs by 2014.
About Precision Medical Technologies
Precision Medical Technologies was founded in 1993 as Machining Concepts, Inc., to provide wire EDM service to OEMs in Warsaw, Indiana. The business was immediately successful and became well-known locally as a shop capable of providing high-quality, quick-turnaround work at a reasonable price. In 2003, co-owners Kurt Kamholz and Jeff Thornburgh purchased controlling interest in Machining Concepts and began to expand the offerings and capacity of the firm. They now offer a much greater-and growing-range of services that combine cutting-edge technology and topnotch service that provides customers with high-quality instruments and implants.
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.