Wednesday, October 16, 2019

Medtronic invests $50 million in Puerto Rico expansion

By on October 9, 2019

Gov. Wanda Vázquez is greeted by Félix M. Negrón, vice president of Medtronic Puerto Rico Operations, as Economic Development Secretary Manuel Laboy looks on. (Courtesy)

Increased manufacturing capacity expected to create over 500 jobs

SAN JUAN — Puerto Rico Gov. Wanda Vázquez and Economic Development Secretary Manuel Laboy announced Wednesday the expansion of the Medtronic facilities in Juncos and Villalba with a more than $50 million investment. The expansion will help create hundreds of jobs at the manufacturing facilities in Juncos.

The new investment is in new equipment and machinery to increase productivity and manufacturing capacity in the development of technology that helps treat chronic conditions such as cardiovascular disease and diabetes. 

(Courtesy)

“The expansion that is being announced today shows that Medtronic believes in Puerto Rico, that it has confidence in our island, and that is very important,” Vázquez said at a news conference at Medtronic facilities in Juncos. “That Puerto Rico is trained and ready… I must add that it has the best manufacturing employees and they are being recognized by Medtronic. With this project that invests close to $50 million and some 500 to 600 jobs will be created in the next years, it really helps the municipalities and mainly the municipality of Juncos.”

Medtronic makes up more than 45 percent of the industrial jobs in Puerto Rico’s biosciences sector which represents about 34 percent of the island’s gross domestic product, according to a release issued by the governor’s office.

For his part, Laboy spoke of the importance of Medtronic continuing to see “the island as a competitive place to invest in, to continue expanding and bringing new products, new technology…. These companies contribute a lot at a social and economic level,” Laboy stressed.

(Courtesy)

For his part, Laboy spoke of the importance of Medtronic continuing to see “the island as a competitive place to invest in, to continue expanding and bringing new products, new technology…. These companies contribute a lot at a social and economic level,” Laboy stressed.

In addition to the facilities in Juncos and Villalba, Medtronic has operations in Ponce and Humacao, where it manufactures catheters and pacemakers, as well as devices to treat spinal and cervical conditions and diseases.

Laboy said Medtronic has created some 5,000 jobs at its of the facilities on the island.

The vice president of Medtronic Puerto Rico Operations, Félix M. Negrón, said there will be several expansion phases that will go hand in hand as different products arrive and that “various jobs have already been created.”

“Because, although today we are making the announcement we already started working a while back,” Negrón said. “The phases will be aligned with the products that arrive, and the majority will be created within the next two years.”

Based in Dublin, Ireland, Medtronic is among the world’s largest medical technology and services companies. It employs more than 90,000 people.

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