Stryker gets $2.6M from Michigan Strategic Fund Board for facility expansion: 5 things to know

Written by Laura Dyrda | June 27, 2018 | Print  |

The Michigan Strategic Fund Board granted Stryker $2.6 million toward its new facility in Portage, Mich., according to WWMT.

 

Here are five things to know:

1. Stryker is planning to construct a 253,000-square-foot expansion to its Portage facility, which will begin construction in the fall.

2. The predicted overall investment in real and personal property improvements is $89 million, with anticipated capital investment being about $109 million by 2020, according to MLive.

3. The Portage City Council granted Stryker's request for a tax abatement that will cut real property taxes in half on around $35.8 million in real property improvements associated with their announced expansion, according to MLive.

4. The expansion expects to add around 360 jobs by Dec. 31, 2025, at an average salary of $73,000. Stryker currently has more than 33,000 employees.

5. In the past two years, Stryker has also spent $130 million on expanding its instruments division, which is also located in Portage.

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