On Oct. 28, Mayor Andy Cook and Gov. Eric Holcomb announced Abbott will open a heart-valve manufacturing operation in the NorthPoint Industrial Park in northern Westfield. The facility plans to bring 477 jobs over five years.
The Westfield City Council approved 10-year real and personal property abatements for the facility at its most recent meeting. Abbott will invest at least $37.6 million to build the new manufacturing facility, which will support the company’s structural heart business. The facility will be 120,000 square feet and will house manufacturing for the company’s MitraClip transcatheter mitral valve repair system, which also is manufactured in Menlo Park, Calif. The MitraClip device is a small, clip-based device used to repair primary and secondary mitral regurgitation without the need for open-heart surgery. MitraClip has been implanted in more than 90,000 patients worldwide.
“This is a great day for the City of Westfield,” Cook stated. “We have worked hard to attract diverse businesses. The addition of a Fortune 500 life sciences company, like Abbott, is a big win not only for Westfield but for the state of Indiana. We look forward to welcoming the Abbott team to Westfield and showing them the caliber of people and community they are joining.”
Construction is set to begin later this year, with the space slated to be fully operational by 2021.
In addition to the council abatement, the Indiana Economic Development Corporation offered Abbott up to $3.5 million in conditional tax credits and up to $1 million in training grants based on the company’s plans to create more than 300 jobs by the end of 2024. These tax credits are performance-based. The IEDC also offered up to $750,000 from the Industrial Development Grant Fund to support infrastructure improvements to the new site.
Duke Energy has approved additional incentives to offset a portion of the energy costs.
“We’re pleased to expand our U.S. presence by building an additional MitraClip manufacturing facility in Indiana. This facility will help in our goal to improve the health of people around the world and meet the needs of physicians and patients battling structural heart disease,” stated Mike Dale, vice president of Abbott’s structural heart business.