The Kosciusko County Council voted unanimously on March 13, 2014 to move forward a request from Biomet, Inc.’s Global Vice President of Finance, Richard Fradette, to abate taxes on a potential expansion of the company’s headquarters in Warsaw, Indiana.
Biomet Seeks Public Funds for Expansions
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The Journal Gazette of Fort Wayne, Indiana, reported on March 15, 2014 that company officials said their $40.5 million expansion project would go forward only if county and state tax breaks and other incentives are approved.
The project, according to the Journal, would increase the company’s annual payroll by $11.3 million after 150 employees are added by 2018. The jobs are predicted to pay $75, 000 a year on average and will be added in stages, according to paperwork prepared by the company.
Biomet’s new project calls for spending the $40.5 million on capital improvements including building renovations and 3-D printing and optical scanning technology. The project, according to the Journal, also includes upgrades to Biomet’s Global Center of Excellence, the program that allows surgeons interested in introducing a new product, technology or technique to explore the idea with an expert.
The Indiana Economic Development Corp. in August 2010 approved almost $3 million in tax credits and training grants for Biomet, which announced plans to create 278 jobs at that time. Kosciusko County approved additional incentives on the $26 million investment.
A public hearing will be held in April. The council will vote on the request sometime after the hearing. The Journal did not report how much Biomet is asking for.
On March 12, 2014, Wales Online reported that the Welsh government is providing £694, 000 ($1.1 million) in business finance to Biomet to add 60 new jobs at its Bridgend facility. The facility on the Waterton Industrial Estate, according to the report, was named as Biomet’s Worldwide Centre of Excellence for manufacturing hip joint implants in 2009 when a significant investment was made to upgrade equipment and facilities.
The government contribution is part of an of an anticipated £2.7m ($4.4 million) investment.
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This is a fascinating development. In my practice we've seen similar outcomes with the revised protocol. The key differentiator seems to be patient selection criteria. Has anyone else noticed the correlation with BMI thresholds?
Great point. I'd push back slightly on the conclusion, the sample size in the cited study is too small to draw population-level inferences. That said, the directional signal is compelling and worth a larger RCT.
We implemented a similar approach last year. Early results are promising but we're still gathering 12-month follow-up data. Happy to share our protocol if anyone is interested.
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