Audubon-based Globus Medical plans to expand its Montgomery County manufacturing operations.
The company is a medical device manufacturer of more than 200 products. It focuses on the design, development and commercialization of musculoskeletal implants, including spinal implants and instruments.
Globus Medical will purchase and renovate a facility in Limerick Township near its global headquarters. It will invest $36 million in the project.
The company was founded in 2003. Expansion is expected to retain more than 1,000 jobs and create 243 positions.
“Globus Medical has an established presence in our state and has worked with the commonwealth for years in their growth and expansion—starting with only four employees in 2003,” Gov. Tom Wolf said. “With this manufacturing operation expansion, their workforce will grow substantially, and will build upon their continued commitment to bringing new jobs and opportunities to southeast Pennsylvania.”
The Department of Community and Economic Development submitted a $750,000 Pennsylvania First grant and proposed $729,000 in Job Creation Tax Credits to be distributed upon creation of the new positions.
The Governor’s Action Team coordinated the project. The team is group of economic development professionals who work with businesses that are considering locating or expanding in Pennsylvania. It reports directly to the governor.