Micropulse Inc., a medical device manufacturer for the orthopedic and cardiovascular industries, plans to expand its operations.
"From pharmaceutical to orthopedic leaders, Indiana's sound fiscal policies, low-tax structure, and talented workforce continue to be a catalyst of growth and success for life sciences companies like Micropulse," states Governor Mike Pence. "Indiana has developed a comprehensive formula of business-friendly and entrepreneur-friendly remedies that give companies in this sector a competitive edge and are further testament to the state's reputation as the orthopedics capital of the world."
The homegrown-Hoosier company develops and manufactures orthopedic instruments, implants and sterilization cases and trays, as well as incubates orthopedic startup companies in-house. The company will invest $14.3 million to equip and renovate its current 100,000ft2 facility in two phases through 2017. The project's first phase, which includes equipment installation, is expected to be complete by late next year.
By 2015, phase two of the project will commence, including a 60,000ft2 facility expansion and some renovation. The new expansion will house additional offices and precision machines and will accommodate growth of its core contract manufacturing business and continued support of the startup incubator Orthovation Center.
"We are growing in Indiana for a number of reasons including our talented people, a tremendous infrastructure of suppliers, customers and the availability of future skilled workers," states Brian Emerick, founder and president of Micropulse. "Indiana continues to lead the nation, encouraging companies like Micropulse to grow through numerous pro-business initiatives and low tax rates."
Founded in 1988 in Emerick's garage, today Micropulse employs more than 240 full-time Hoosiers. It has already begun the process of hiring additional skilled machinists, quality engineering, and manufacturing engineering positions on an ongoing basis. Interested candidates can apply by visiting www.micropulseinc.com/employment.html.
Named a 2008 Company to Watch and a 2011 Company to Watch Spotlight Award recipient, Micropulse houses and incubates orthopedic startups through its Orthovation Center and also develops innovative orthopedic implants that are available for licensing to other companies.
"We are pleased to support Micropulse's expansion in Whitley County and commend company owner Brian Emerick for his ongoing commitment to our community," states Whitley County Commissioner George Schrumpf. "We greatly appreciate how involved the Micropulse team is in local and regional community and economic development efforts."
The Indiana Economic Development Corporation offered Micropulse Inc., up to $700,000 in performance-based tax credits and up to $50,000 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. Whitley County approved additional tax abatement at the request of Whitley County Economic Development Corporation.
Micropulse joins nearly 2,000 life science companies across Indiana, together making a $50 billion overall impact on the state's economy. The Hoosier State ranks third highest in the nation for life science exports, with life science exports totaling $9.3 billion.
Source: The Indiana Economic Development Corp.