US-based medical devices maker Abbott Laboratories has announced plans to build a manufacturing facility in Indiana, a move that is expected to create over 450 jobs.
To be built in two phases, development of the manufacturing facility will complete by the end of 2024. Westfield City Council approved its incentive package.
Westfield Mayor Andy Cook said: “This is a great day for the City of Westfield. We have worked hard to attract diverse businesses. The addition of a Fortune 500 life sciences company, like Abbott, is a big win not only for Westfield but for the state of Indiana.
“We look forward to welcoming the Abbott team to Westfield and showing them the calibre of people and community they are joining.”
Abbott’s structural heart business vice president Mike Dale said: “We’re pleased to expand our US presence by building an additional MitraClip manufacturing facility in Indiana. This facility will help in our goal to improve the health of people around the world and meet the needs of physicians and patients battling structural heart disease.”
According to Indiana Governor Eric J Holcomb: “Indiana’s economy continues to fire on all cylinders, and global companies like Abbott are taking notice. Operating in a global economy, Abbott had endless options, and I am incredibly grateful they chose the Hoosier state to not only grow their business and create hundreds of careers, but also improve the lives of people around the world.”
Abbott will invest around $38m to build the manufacturing facility in Westfield to support its structural heart business.
This 120,000ft² facility will be developed at Holladay Properties’ NorthPoint Industrial Park, which is located along US-31 in Westfield.
Following the completion of construction, the facility will accommodate manufacturing for Abbott’s MitraClip transcatheter mitral valve repair system, a small, clip-based device proven to repair primary and secondary mitral regurgitation without requiring a patient to undergo open-heart surgery.
The mitral valve repair system, which is also manufactured at Menlo Park of California, has been implanted in over 90,000 patients around the world.
Construction of the new plant is slated to commence later this year and be completely operational by 2021.
Set up over 130 years ago and based in Chicago, Abbott provides a wide range of products including medical devices, diagnostics, nutrition and medicines.
The Westfield City Council approved 10-year real and personal property abatements. The Indiana Economic Development Corporation (IEDC) also provided up to $3.5m as conditional tax credits and up to $1m as training grants to the company based on its plans to create over 300 jobs by the end of 2024.
The IEDC also provided up to $750,000 to the community from the Industrial Development Grant Fund for supporting infrastructure improvements to the new site.