Nextremity Solutions Inc., a privately held extremity musculoskeletal product development company, will invest more than $4.5 million to expand its operations in the Warsaw Technology Park in Warsaw, IN. The project will create up to 111 new jobs by the end of 2024.
“This is such an exciting time for our team at Nextremity Solutions as we expand our capabilities to create, manufacture and deliver innovative solutions to our strategic alliance partners and to other orthopedic companies,” said Nextremity Solutions President and CEO Rod K. Mayer. “The shell building provides the ideal location for us as we create a synergistic partnership with Lakeland Technology going forward.”
Nextremity Solutions is an orthopedic device company based in Warsaw, which is known as the Orthopedic Capital of the World. As part of its growth, the company will partner with West Hill Development to to transform a shell building in the Warsaw Technology Park. The new building will allow Nextremity Solutions to integrate its product development and manufacturing business operations, both currently located in Warsaw, into one location. Construction, which is already underway, is expected to be completed by April 2021. The company plans to begin transitioning employees to the new facility before the end of 2020.
“Indiana has a rich tradition of strength in life sciences, ranking second in the U.S. for these critical exports like pharmaceuticals, medical devices and orthopedics,” said Indiana Secretary of Commerce Jim Schellinger. “Nextremity Solutions’ commitment to innovating and growing its operations in Indiana is a testament to our industry strength and skilled talent pipeline. The company’s expansion will create more high-quality career opportunities for Hoosiers while providing life-enhancing products for customers across the U.S.”
Earlier this year, Nextremity Solutions acquired Lakeland Technology Inc., an ISO 13485 certified contract manufacturer for the medical device industry that offers a wide range of services including design for manufacturability, precision machining, finishing, inspection, and packaging of instruments, prototypes, custom instruments, and is known for their ability to build complex assemblies.
“We are excited to support a locally-owned, locally-grown company like Nextremity Solutions pursuing an aggressive growth plan in our community,” said Warsaw Mayor Joseph M. Thallemer. “We had companies like this one in mind when we first sought to establish the Warsaw Tech Park nearly 10 years ago.”
Warsaw Technology Park — one of only two dozen locations to receive a designation through the Certified Technology Park program from the Indiana Economic Development Corporation (IEDC) — is home to the Ivy Tech Warsaw campus, and represents a partnership between the Warsaw Redevelopment Commission and locally-based West Hill Development.
The IEDC offered Nextremity Solutions Inc. up to $1.6 million in conditional tax credits and up to $100,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning the company is eligible to claim incentives once employees are hired. The Warsaw Redevelopment Commission and Warsaw Common Council will offer additional incentives.