With a $109-million investment, Stryker Corp. will expand its manufacturing of medical-device products. The corporation plans a 253,000-square-foot expansion in Portage and the addition of 260 jobs by the end of 2025.
Construction is expected to begin this fall and be completed by the end of 2020.
The Michigan Strategic Fund has approved a $2.6-million Michigan Business Development Program performance-based grant to support the project.
Stryker says the average annual salary for those in the positions added over the next seven years is expected to be $73,000.
“The expansion further positions Stryker to innovate and respond effectively to the worldwide medical community for generations to come,” says Jeff Mason, CEO, Michigan Economic Development Corporation, which administers programs and performs due diligence on behalf of the MSF.
“Stryker has been one of Michigan’s most innovative companies and solid corporate citizens,” he says. “This move reflects their long-term commitment to Michigan, and provides a catalytic impact for economic development throughout the southwestern region of the state.”
In addition to boosting Stryker’s manufacturing capacity, the expansion includes amenities for employees, including new cafe and patio, expanded training space, and newly designed offices to encourage collaboration.
In early 2017, Stryker announced a $130-million investment for its Portage-based instruments division, including adding 105 jobs. That investment is also supported by a $1-million Michigan Business Development Program performance-based grant
Ron Kitchens, CEO and senior partner of Southwest Michigan First says, “As Stryker grows its industry footprint through the development of new products and acquisitions, the company’s decision to expand in the City of Portage sends a strong signal to the market that Southwest Michigan is an advantageous place to do business.”
Source: Michigan Economic Development Corporation