09.15.15
Banner Medical, a Carol Stream, Ill.-based supplier and processor of medical grade raw materials, announced plans to build a new facility in Warsaw, Ind.
The company will invest $6.3 million to construct a 43,000-square-foot material processing center at the Warsaw Technology Park. The company plans to use the plant to deliver medical grade materials and services for local and regional customers.
Construction on the site, which may accommodate future expansions up to 110,000 square feet, started in early September, with plans to begin Indiana operations by early 2016. It will create up to 76 new jobs for the region by 2019.
“Warsaw, Indiana, is an integral part of our growth strategy, and we look forward to further serving existing and potential new customers in the region through this facility,” said Mark Redding, president and CEO of Banner Service Corporation. “Banner Medical will offer the best total solution through material accessibility, services offered and customer intimacy to the medical device industry that resides in Warsaw and the region.”
The Indiana Economic Development Corporation offered Banner Medical Innovations Inc. up to $725,000 in conditional tax credits and up to $25,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Warsaw approved additional incentives at the request of the Kosciusko Economic Development Corporation.
“Banner Medical brings a reputation of innovation and advanced technology into our community,” said Warsaw Mayor Joe Thallemer. “Locating in the new Warsaw Technology Park gives Banner local access to over thirty of its existing customers creating a synergy that can only be found in our community of advanced orthopedic manufacturing. We are excited to welcome Banner to Warsaw.”
The company will invest $6.3 million to construct a 43,000-square-foot material processing center at the Warsaw Technology Park. The company plans to use the plant to deliver medical grade materials and services for local and regional customers.
Construction on the site, which may accommodate future expansions up to 110,000 square feet, started in early September, with plans to begin Indiana operations by early 2016. It will create up to 76 new jobs for the region by 2019.
“Warsaw, Indiana, is an integral part of our growth strategy, and we look forward to further serving existing and potential new customers in the region through this facility,” said Mark Redding, president and CEO of Banner Service Corporation. “Banner Medical will offer the best total solution through material accessibility, services offered and customer intimacy to the medical device industry that resides in Warsaw and the region.”
The Indiana Economic Development Corporation offered Banner Medical Innovations Inc. up to $725,000 in conditional tax credits and up to $25,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Warsaw approved additional incentives at the request of the Kosciusko Economic Development Corporation.
“Banner Medical brings a reputation of innovation and advanced technology into our community,” said Warsaw Mayor Joe Thallemer. “Locating in the new Warsaw Technology Park gives Banner local access to over thirty of its existing customers creating a synergy that can only be found in our community of advanced orthopedic manufacturing. We are excited to welcome Banner to Warsaw.”
