Following a $50m expansion, Medtronic is to create more than 700 new direct and indirect jobs in the Puerto Rican biosciences sector. Gov. Pedro Pierluisi said that Government support, through incentives granted by the DDEC, has “been key to the development of this expansion project. Medtronic’s new expansion is part of our commitment to continue supporting manufacturing, which represents 48% of our economy.”
Medtronic received incentives under the Special Fund for Economic Development (FEDE), which it will use to create and retain jobs, and buy machinery and equipment necessary for the manufacture of a new line of products for diabetes management.
“The second phase of this expansion allows the transfer of part of the active sensor to Puerto Rico. This way, the manufacturing of all the next-generation glucose sensor product is consolidated in Juncos,” said Department of Economic Development and Commerce Secretary Manuel Cidre. “This transfer will generate an increase in the workforce of production line employees, generating a multiplier effect on our economy,” he added.
The first phase of the project sees the conversion of an 11,000 square-feet office area to a manufacturing area. “This area will be dedicated to manufacturing the new generation of the continuous glucose monitoring sensor. This innovative new product manufactured by Puerto Rican hands gives a more complete picture of glucose levels, resulting in better decisions about lifestyle and better glucose control,” said Medtronic Puerto Rico’s Vice President of Operations Rolando Vázquez.