OFFICIALS LAUD EXPANSION OF MAQUET CARDIOVASCULAR
Wayne, N.J. (Oct. 14, 2009) – State and local officials today applauded the expanded presence of MAQUET Cardiovascular in New Jersey at a ceremony marking the company’s decision to consolidate its U.S. facilities in Wayne. MAQUET expects to create 350 new jobs in New Jersey and make a private investment totaling $40 million as a result of the expansion.
“MAQUET’s decision to expand in Wayne is great news for New Jersey and helps to further demonstrate that our business friendly policies and strategic advantages continue to attract innovative companies from across the nation and world,” said Governor Jon S. Corzine. “I want to thank the MAQUET organization for their commitment to the Garden State. The company’s investment here is evidence that even during a global economic recession, New Jersey remains a desirable location for business growth and expansion.”
MAQUET Cardiovascular, a division of German-based medical technology group MAQUET, was formed in 2008 by combining MAQUET Cardiopulmonary with Boston Scientific’s Vascular Surgery and Cardiac Surgery divisions and the 2009 acquisition of the New Jersey-based DataScope Corporation. According to MAQUET, the creation of this new organization enables the company to offer a comprehensive array of patient care solutions for less-invasive endoscopic vessel harvesting, off- and on-pump coronary artery bypass surgery, and vascular grafting. MAQUET Cardiovascular relocated the manufacturing of its newest product lines from Puerto Rico to the Wayne facility. MAQUET, which also offers surgical workplace and critical care medical solutions, has 170 years of healthcare experience and is headquartered in Germany. The company is a subsidiary of the publicly listed Swedish group of companies GETINGE AB.
“Moving manufacturing to a wholly owned MAQUET facility was in the best interest of the company to support our expanding United States footprint and fulfill the global needs of the newly created MAQUET Cardiovascular division,” said Christian Keller, President and CEO. “New Jersey’s highly-skilled workforce, excellent location and business friendly nature will help ensure our continued expansion and success.”
The company received a Business Employment Incentive Program (BEIP) grant from the New Jersey Economic Development Authority (EDA) in 2009 to support the creation of 350 new jobs, including the relocation of 12 senior managers from Europe and California. The BEIP grant was considered a major factor in MAQUET’s decision to move part of its manufacturing operations from Puerto Rico to Wayne and further expand its presence in the state.
BEIP grants are available to businesses expanding or relocating their workforce in the Garden State. Grants may be awarded for up to 10 years and can range between 10 percent and 80 percent of the total amount of state income taxes withheld by the company during the calendar year from the salaries of the new employees hired.
The EDA is a state financing and development agency that works to strengthen New Jersey’s economy by retaining and growing businesses through financial assistance, by renewing communities, and by promoting the state’s strategic advantages to attract domestic and international business.
For more information on BEIP, visit www.njeda.com. To learn more about opportunities for business growth throughout New Jersey, visit the state’s business portal at www.NewJerseyBusiness.gov.
For more information on MAQUET, visit www.maquet.com, and www.getingegroup.com.