An international company that makes heart valves and critical-care monitoring devices is expanding its Utah presence with a new state-of-the-art manufacturing plant in Draper, after accepting an incentive package from the state.
Announcement of Edwards Lifesciences Corp.'s new facility, expected to create as many as 1,000 new jobs while maintaining the 228 it already has in Utah, was made Thursday by Gov. Gary R. Herbert and the Governor's Office of Economic Development.
"Economic growth and development is the No. 1 priority in the state," Herbert said. "This is an important announcement. If you get the economy growing, all the other issues will fall in place."
He added that "Utah is open for business," with a work force he described as "young, educated and vibrant," as well as "tech savvy."
The GOED board had offered Edwards an incentive package totaling about $11.5 million over 15 years, based on the promise the company would keep the 228 jobs that are currently in Midvale and create an expected 1,000 new jobs in manufacturing, business and engineering over the course of the incentive.
Edwards also accepted an incentive from the city of Draper of about $3 million, based on capital investments and employment rates over a seven-year period, according to a release accompanying the announcement.
In Midvale, employees make cannula and embolic-protection devices that cardiac surgeons use in open-heart surgery. Edwards plans to transfer that production process to the new facility in Draper early next year.
Executive vice president Paul C. Redmonds told the GOED board that the company, headquartered in Irvine, Calif., has 40 offices in 35 countries. He said the company, which is publicly traded on the New York Stock Exchange, sees a bright future for its products, since cardiovascular disease is the No. 1 killer and treatment of the progressive condition is the top health expense.
According to the GOED, the company is just part of Utah's thriving life-sciences industry, which includes roughly 66,000 high-quality jobs that generate an estimated $3.6 billion in annual wages.
e-mail: lois@desnews.com