12.19.13
According to economic development officials in Puerto Rico, Medtronic Inc. is planning to invest $6 million in two of its manufacturing plants on the island, and will add 150 jobs there over the course of three years.
Medtronic has three locations in Puerto Rico, and the investment is meant to advance its medical device technologies, according to the Puerto Rico Industrial Development Company (PRIDCO), the government-owned group that is charged with attracting outside investment in Puerto Rico.
According to PRIDCO, 100 of the 150 new employees will be added to Medtronic’s manufacturing plant in Juncos focused on a new technology for diabetes patients, specifically an implantable sensor that allows for the continuous monitoring of a patient’s glucose levels.
The other 50 employees will work at Medtronic’s manufacturing plant in Humacao, where they will develop new technology for patients with cervical disc disease, and specifically a device used in procedures related to cervical spine issues.
“Medtronic’s expansion, investment, job creation, and technological renovation demonstrate that this administration is fulfilling its commitment to strengthen our manufacturing industry, a sector that produces thousands of high-paying jobs, a vast majority of our exports and a significant portion of our gross domestic product,” Alejandro García Padilla, the governor of Puerto Rico, said in a statement.
Minneapolis, Minn.-based Medtronic currently employs approximately 46,700 worldwide. The company reported $16.6 billion in revenue for the fiscal year that ended April 26, a 2.5 percent increase from the prior year.
Medtronic has three locations in Puerto Rico, and the investment is meant to advance its medical device technologies, according to the Puerto Rico Industrial Development Company (PRIDCO), the government-owned group that is charged with attracting outside investment in Puerto Rico.
According to PRIDCO, 100 of the 150 new employees will be added to Medtronic’s manufacturing plant in Juncos focused on a new technology for diabetes patients, specifically an implantable sensor that allows for the continuous monitoring of a patient’s glucose levels.
The other 50 employees will work at Medtronic’s manufacturing plant in Humacao, where they will develop new technology for patients with cervical disc disease, and specifically a device used in procedures related to cervical spine issues.
“Medtronic’s expansion, investment, job creation, and technological renovation demonstrate that this administration is fulfilling its commitment to strengthen our manufacturing industry, a sector that produces thousands of high-paying jobs, a vast majority of our exports and a significant portion of our gross domestic product,” Alejandro García Padilla, the governor of Puerto Rico, said in a statement.
Minneapolis, Minn.-based Medtronic currently employs approximately 46,700 worldwide. The company reported $16.6 billion in revenue for the fiscal year that ended April 26, a 2.5 percent increase from the prior year.