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Business Observer Thursday, Jul. 21, 2016 1 year ago

Medical device firm adds 560 jobs

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Medical device manufacturer Arthrex plans to create 560 additional jobs in Naples.

NAPLES — Medical device manufacturer Arthrex plans to create 560 additional jobs in Naples, according to an announcement by Florida Gov. Rick Scott.

Arthrex, which currently employs 2,200 people in Florida, plans to invest $63 million as part of the expansion in Naples, according to a statement from Scott's office.

“More and more manufacturing companies are choosing to invest and create new opportunities in our state because of our work to cut taxes and make it easier for job creators to succeed,” says Scott says in the statement. “I look forward to seeing Arthrex' continued growth as we work to make Florida first for jobs.”

In May, Collier County government approved more than $1 million in state and local subsidies for Arthrex in return for the company's creation of high-paying jobs, according to a statement from the county. The negotiations for the subsidies were confidential and discussed at county commission meetings under the code name Project Nikita.

“Collier County is so lucky to have a company like Arthrex that has become a true community partner,” says Collier County Commission Chair Donna Fiala, in a statement. “Arthrex has been a long and trusted friend of Collier County and has always delivered beyond expectations.”

Naples-based Arthrex has created more than 9,500 products for orthopedic surgeons. Reinhold Schmieding founded the company in 1991 and it reported nearly $1.9 billion in revenues in 2015, a 10% increase from 2014.

You can read a recent Business Observer story about Arthrex' selection as one of the top employers in the nation by clicking here.

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