Arthrex, a Collier County-based medical device manufacturing company, will expand its operations in North Naples, creating 560 jobs and $63 million in investment as part of a public-private agreement between the company, the state and Collier County.
“To have a global medical device leader like Arthrex make this kind of investment shows their confidence in Collier County. The ripple effect of Arthrex’s physical expansion and the jobs created contributes greatly to our region’s growing economic strength,” said Kristi Bartlett, vice president of economic development for the Greater Naples Chamber of Commerce. “This is a prime example of the fruits of having a robust business retention and expansion effort.”
Enterprise Florida, the state’s principal economic development organization, brought the proposed project to Collier County in April.
The Collier County Board of County Commissioners in May approved more than $1 million in incentives for the Arthrex project. Of that money, $560,000 was local support as the project qualified for the county’s Qualified Target Industry Tax Refund (QTI) program. This requires Arthrex to create 560 new jobs in Collier County that will provide high-wage, value-added employment to Collier County citizens with an average annual wage of $54,000 and average annual benefits of $17,000. An additional $600,000 was awarded in local support because the project qualified for the state’s Quick Action Closing Fund (QACF), which requires Arthrex create the jobs and meet its capital investment obligations.
“Collier County is so lucky to have a company like Arthrex that has become a true community partner,” said Commission Chair Donna Fiala. “Arthrex has been a long and trusted friend of Collier County and has always delivered beyond expectations.”
Over the last 25 years, Arthrex has grown into a global leader in arthroscopic surgery, developing more than 9,500 innovative products and surgical procedures to advance minimally invasive orthopedics worldwide. Today, the company trains thousands of surgeons annually at its medical education facility in Naples and more than 90 percent of Arthrex’s products are manufactured in the United States and exported to more than 100 countries around the world.
The company, which has been based in Naples since 1991, has been named one of the Top 100 Best Companies to Work For by Fortune Magazine and was No. 3 out of the 15 Best Workplaces in Manufacturing and Production in the country.
“Arthrex is committed to reinvesting in our community, and the best investment is growing our business right here in Southwest Florida,” said Reinhold Schmieding, president and founder of Arthrex. “This investment will help us expand our research, manufacturing, product development and medical education to help improve the lives of people in Southwest Florida with our company and around the world with our products.”
“Arthrex has been a valuable employer and community ally in Collier County,” said Commissioner Georgia Hiller, the Board of County Commissioners’ economic development chair whose district includes Arthrex’s headquarters. “We are thrilled they continue to invest in Collier County as they grow globally.”
For more information, please contact Communication & Customer Relations Manager Mike Sheffield at (239) 252-8383 or Public Information Coordinator Kate Albers at (239) 252-8579.