Medtronic Inc.’s (NYSE:MDT) plans to grow its surgical-technologies business in either Jacksonville, Fla., or Forth Worth, Texas, and the medical device giant is asking Florida government officials for $2.5 million in incentives to encourage it to expand in the Sunshine State.
The expansion promises to create 175 new jobs with an average salary of $80,000 per year. The Fridley, Minn.-based med-tech goliath currently employs about 600 in Florida.
If negotiations are successful, state officials will provide $1.87 million and Jacksonville city officials will provide $660,000 to encourage Medtronic make the move, the Florida Times-Union reported.
The news comes on the heels of reports that the company cut hundreds of jobs in its diabetes unit in May. Medtronic announced plans to cut nearly 2,000 jobs, as much as 2 percent of its workforce, in February.