Ottobock, headquartered in Duderstadt, Germany, and the Utah Governor’s Office of Economic Development (GOED) announced that Ottobock North America will expand its existing manufacturing and research and development center in Utah by adding fabrication and service functions to its current operations, as well as increase its workforce by 80.
“The functions that will relocate and merge with current operations in Salt Lake City, Utah, will take advantage of our existing infrastructure and build synergies within manufacturing to better support evolving policy and procedure compliance,” Andreas Schultz, president and CFO of Ottobock North America, Minneapolis, Minnesota, was quoted as saying by UtahPolicy.com.
According to Karen Lundquist, Ottobock’s director of communications, North America, the addition of these functions should be in place by June or July of this year.
“Ottobock is investing in the O&P industry in the United States because we believe O&P has a bright future here,” she said.
As part of the incentive to expand the facility, the GOED board of directors has approved a post-performance economic development tax incentive whereby Ottobock will recoup up to $392,019 of the net taxes it pays during the course of a seven-year agreement the company signed with the state. Throughout the agreement’s term, Ottobock will pay out more than $16.2 million in new state wages.