Orthopedic device company Orchid Orthopedic Solutions secured a $10,000 Industrial Facilities Tax Exemption, according to an mLive report.
Here are five things to know about the tax exemption:
1. Orchid Orthopedic Solutions plans to use the tax exemption to help add nine new jobs by the end of the year. The company also plans to invest more than $2 million into a facility in Lima Township — Orchid Chelsea.
2. Ann Arbor SPARK was instrumental in securing the incentives, providing support for the company's efforts to expand in the region. "High tech manufacturing like the precision equipment and orthopedics that are Orchid Chelsea's specialty is the core of our talent pool and expertise in the Ann Arbor region," said Ann Arbor SPARK President and CEO Paul Krutko.
3. The knee and hip implant and instruments company is updating existing equipment and purchasing new equipment to prepare for the future. The new equipment will support the company's growth.
4. Orchid currently employees 1,800 skilled workers at 13 manufacturing and technical sites.
5. Earlier in September, the Michigan Economic Development Corporation awarded Orchid a $300,000 grant to train new employees. The company also recently made a $4.8 million expansion to its headquarters in Holt, Mich., and opened a $1 million manufacturing facility this past April.