FOR IMMEDIATE RELEASE
Warsaw, IN (October 7, 2019) – Instrumental Machine & Development (IMD), a locally based supplier of specialized orthopedic instrumentation, sterilization trays, and accessories, today announced plans to expand the company’s Warsaw facility, adding up to 34 net new jobs by 2022.
“Today’s announcement is about adding the people, equipment, and floor space we need to grow alongside our nationwide customers,” said IMD President Todd Speicher, “IMD has come a long way in our nearly 30-year history and we are excited about the opportunities ahead to serve our clients and their surgeon customers.”
IMD was started in 1991 and moved to its current location in 2005. The company now has 36,000 SF and this project will add more than 26,000 SF of additional space. IMD now has 98 employees and supports clients nationwide with specialized design, development, and manufacturing capabilities, with an emphasis on custom instrumentation.
“Indiana’s economy is thriving thanks to businesses and job creators like Instrumental Machine & Development,” said Elaine Bedel, president of the Indiana Economic Development Corporation (IEDC). “As a state, it’s an honor to be home to a locally-grown company that continues creating quality career opportunities for Hoosiers. I am confident that with Indiana’s strong manufacturing sector and talented workforce, IMD will continue to see success well into the future.”
The IEDC offered IMD up to $230,000 conditional tax credits based on the company’s job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The Warsaw Common Council approved the phase-in of property taxes on real and personal property at the request of the Kosciusko Economic Development Corporation (KEDCo). “We are always pleased to see companies like IMD continuously choose to grow in our community,” said Warsaw Mayor Joe Thallemer, “Today’s announcement is a reminder that Warsaw’s status as the Orthopedic Capital involves companies of all sizes that work with customers in our community and worldwide.”
Todd Speicher: email@example.com
Erin Sweitzer: esweitzer@iedc.IN.gov
Alan Tio: firstname.lastname@example.org