The state of Utah extended Stryker a $3.4 million tax rebate incentive to expand its neurotechnology training and manufacturing center, according to The Salt Lake Tribune.
Here are five observations:
1. Stryker expects to hire 540 people and spend $100 million on the expansion over the next 10 years. The new hires should result in an additional $17 million in state tax revenue.
2. The tax rebate will help Stryker expand its current facility and add to its product portfolio, including new equipment for orthopedic, spinal and endoscopic treatments.
3. The company has operated in Utah since 2011. Later this year, Stryker plans to begin manufacturing stroke care technology products and offering physician training.
4. In January, Stryker opened a 137,000-square-foot facility, which integrates an operating room with booms, surgical lights, high-definition audio and an imaging system, allowing physicians in the operating room to communicate with colleagues around the world.
5. Stryker employs 33,000 people worldwide at 43 manufacturing and research sites. The company had $11.3 billion in annual sales last year.