Minnesota's medtech sector named one of 12 "Manufacturing Communities" by DOCMinnesota's medtech sector named one of 12 "Manufacturing Communities" by DOC
A leading light of the U.S. life sciences sector since the 1950s, when Earl Bakken invented the first wearable pacemaker and founded Medtronic, Minnesota's medical technology sector has been named one of 12 "Manufacturing Communities" by the U.S. Commerce Department (DOC).
July 10, 2015
A leading light of the U.S. life sciences sector since the 1950s, when Earl Bakken invented the first wearable pacemaker and founded Medtronic, Minnesota's medical technology sector has been named one of 12 "Manufacturing Communities" by the U.S. Commerce Department (DOC). The distinction can provide access to $1 billion in economic development funds from 11 different federal agencies, including the departments of commerce and defense and the National Science Foundation, reports the StarTribune.
In making the announcement, the White House noted that the region is home to the Mayo Clinic, Medtronic and numerous medical manufacturing startups. "Today, the region . . . leads the nation in bringing new medical devices to market, with 40% of all new devices approved over the past five years hailing from the region. To ensure that even more of the devices emerging from the region's research are manufactured in Minnesota, the [Minnesota Medical Manufacturing] Partnership is attracting new venture capital firms and strengthening the supplier network that support "spinouts" from the region's new Mayo Clinic Business Accelerator."
Although Medtronic moved its corporate headquarters to Ireland following its merger with Covidien in January 2015, operations are still run from the company's facility in the Minneapolis area.
The Twin Cities area was named the top city in the United States for medtech innovation earlier this year by sister brand Qmed.com. "The Twin Cities have arguably the densest concentration of medical device talent of any metro area in the country," wrote Qmed.com.
The region also hosts the annual MD&M Minneapolis exhibition and conference, which brings together suppliers and medical device OEMs. The event is produced by UBM Canon in association with trade association LifeScience Alley. This year's show, which is scheduled for November 4 and 5, will mark the launch of Minnesota Medtech Week.
A statement from the White House press office noted that "U.S. manufacturing is growing faster than the economy overall for the first time since the 1990s. U.S. manufacturers are consistently adding new jobs, nearly 900,000 since February 2010 alone." The Investing in Manufacturing Communities Partnership (IMCP) initiative is designed to build on the economic development plans forged within these communities and public-private partnerships to build globally competitive manufacturing hubs with the help of federal programs and resources.
The 11 other newly designated Manufacturing Communities are:
the Greater Pittsburgh Metals Manufacturing Community in Pittsburgh, PA, led by Catalyst Connection;
the Alamo Manufacturing Partnership in the San Antonio, TX, metropolitan area, led by the University of Texas at San Antonio;
the Louisiana Chemical Corridor stretching from New Orleans, LA, to Baton Rouge, LA, led by Louisiana State University;
the Madison Regional Economic Partnership (MadREP) in the Madison, WI, region, led by the eponymous non-profit;
Made in the Mid-South Manufacturing Alliance spanning five counties surrounding Memphis, TN, led by the Greater Memphis Chamber;
the Greater Peoria Economic Development Council, leading a five-county region in central Illinois;
the South Central Idaho region led by the Region IV Development Association in Twin Falls, ID;
the Utah Advanced Materials and Manufacturing Initiative in the Wasatch Front region of Utah, led by the University of Utah;
the Pacific Northwest Partnership Region in Oregon and Southwest Washington, led by Business Oregon;
the Connecticut Advanced Manufacturing Communities Region, an eight county area centered on Hartford, CT, led by the State of Connecticut Department of Economic and Community Development;
the Central Valley AgPlus Food and Beverage Manufacturing Consortium in Fresno, led by California State University.
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