Tax Abatements and Economic Development Incentives and Job Creation and Government & Economic Development and Medical Devices and Economic Development and Health Care & Life Sciences and Health Care & Insurance

Medical device firm eyeing Indianapolis growth

July 7, 2010

A medical device company is seeking a property-tax abatement to offset costs associated with a $1.1 million expansion of its facility at 3735 N. Arlington Ave in Indianapolis.

The Metropolitan Development Commission will hear the request from New York-based Greatbatch Medical Inc. at its Wednesday afternoon meeting.

Greatbatch expects to create eight jobs at an average wage of $12.75 an hour and retain 146 jobs at an average wage of $14 an hour, according to the abatement request.

The expansion is expected to make room for additional assembly areas and improve shipping and receiving capabilities, the company said. Greatbatch also expects to purchase water-jet, Swiss-lathe and laser-manufacturing equipment.

The commission estimated the $1.1 million investment would result in an annual increase to the tax base of about $440,000 of assessed value. Greatbatch should save about $52,000 in property taxes during the seven-year abatement period.

Greatbatch specializes in cardiovascular products but is expanding into the orthopedics market, which is prompting the expansion, the company said.
 

 

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