Sam Patrick posted an articleMedical device manufacturer launching new operations in the Upstate; life science boom continues see more
Medical device manufacturer launching new operations in the Upstate
Monday, October 16, 2017
COLUMBIA, S.C. – Arthrex, Inc., a global orthopedic medical device company, headquartered in Naples, Fla., is launching new manufacturing operations in Anderson County. The $69 million capital investment is expected to create more than 1,000 new jobs over the next several years.
With a corporate mission aimed at helping surgeons treat patients better, Arthrex is a leader in new product development and medical education in orthopedics. The company is a pioneer in the field of arthroscopy and has developed more than 11,000 innovative products and surgical procedures to advance minimally invasive orthopedics worldwide.
Located at 5500 Highway 76 in Sandy Springs, S.C., Arthrex will be constructing a new 200,000-square-foot facility to manufacture its innovative orthopedic devices and implants. Hiring for the new positions should begin in the next 12 to 18 months, and interested applicants should visit the company’s careers page online(link is external).
The Coordinating Council for Economic Development has approved job development credits related to this project.
“Arthrex is pleased to bring its innovative spirit and unique culture to Anderson County, S.C. and we look forward to leveraging the outstanding work done in the area to prepare future employees for high-level manufacturing jobs.” –Arthrex Vice President of Manufacturing Andy Owen
“South Carolina’s business-friendly climate continues to attract companies in every industry, and we’re proud to welcome Arthrex, Inc. to our growing business community. This a milestone for Anderson County, and we can’t wait to see the difference these jobs will make in the region.” –Gov. Henry McMaster
“Not only does our state excel in manufacturing, we’re also increasingly becoming a top choice for companies in the life sciences sector. Arthrex joins an impressive roster of life sciences firms that call South Carolina home, and we look forward to watching them grow in Anderson County for years to come.” –Secretary of Commerce Bobby Hitt
“We are absolutely thrilled to begin our partnership with Arthrex. Their precision medical products are used by medical professionals around the globe, and the fact that our citizens have been chosen to make them says volumes about the quality of our workforce as well as the skills training we provide.” –Anderson County Council Chairman Tommy Dunn
“This announcement takes our county in an exciting direction. Our goal of establishing a diverse economic base for our citizens is becoming a reality. The presence of this world-class company in our community speaks for who we are in Anderson, and we welcome them with open arms.” –Anderson County Councilman Tom Allen, District Four
FIVE FAST FACTS
- Arthrex is launching new manufacturing operations in Anderson County.
- $69 million capital investment to create more than 1,000 new jobs.
- Arthrex is a leading manufacturer of orthopedic medical devices.
- Located at 5500 Highway 76 in Sandy Springs, S.C., the company will be constructing a new 200,000-square-foot facility to manufacture its innovative orthopedic devices and implants.
- Hiring for the new positions should begin in the next 12 to 18 months, and interested applicants should visit the company’s careers page online.
Ty Kourlas posted an articleSouth Carolina Department of Commerce supporting public-private partnership to advance life sciences see more
COLUMBIA, S.C. – South Carolina’s life sciences industry has an annual economic impact of approximately $11.4 billion, according to a study commissioned by the S.C. Research Authority (SCRA) and S.C. Biotechnology Industry Organization (SCBIO) in partnership with the S.C. Department of Commerce (S.C. Commerce). Prepared by the University of South Carolina’s Darla Moore School of Business, the study finds that this growing sector has experienced an average annual employment growth rate of approximately 1.7 percent in the Palmetto State since 2005.
With a footprint of more than 15,000 employees and 400 firms in South Carolina, life sciences has developed into a critical component of the state’s economy and, as such, presents significant opportunities for economic growth. According to the study, the life sciences industry is associated with an employment multiplier of 2.9; meaning that, for every 10 jobs created within the industry, an additional 19 jobs are created elsewhere in the state.
Typically, these jobs are high-paying. The average direct job in South Carolina’s life sciences industry pays an annual total compensation of $78,658, which is approximately 95 percent higher than the state’s average annual compensation across all jobs.
“The life sciences industry has become a major driver of South Carolina’s economy,” said Secretary of Commerce Bobby Hitt. “Already accounting for thousands of highly-skilled jobs in the Palmetto State, we know that this sector has tremendous growth potential, and we’re excited to be partnering with SCBIO to help life sciences continue to advance in South Carolina.”
In July 2016, S.C. Commerce formed a partnership with SCBIO to determine the footprint of this sector in South Carolina. The first step in the partnership was to complete an economic impact study. Now that the study has been concluded and the scope of the state’s life sciences industry has been identified, the two organizations have forged a memorandum of understanding (MOU) that outlines shared goals and objectives designed to further catalyze and grow the life sciences industry in South Carolina.
A similar framework has been successfully implemented by S.C. Commerce with other industry sectors in recent years, including with the aerospace and logistics sectors. This MOU includes the creation of an unprecedented strategic plan for accelerating the development of the state’s burgeoning life sciences industry sector, and it’s expected to produce measurable results in the years ahead.
“The data generated by this economic study confirms the positive and significant impact that the life sciences industry is already having on the economy of South Carolina,” said SCBIO President and Chief Executive Officer Sam Konduros. “This data creates a solid foundation for future efforts and builds a clear and compelling case for why S.C. Commerce and SCBIO are deepening our partnership, implementing new joint strategies and synchronizing our collective efforts to further diversify and expand the economy of South Carolina through the power of the life sciences industry.”