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New medical polymers kid on the block
Startup company Restoration Medical Polymers (RMP) has announced that it will invest more than $7 million in the construction of a 36,000-square-foot facility in Whitley County, IN. The plant will be dedicated to the development and manufacture of medical-grade polymers for implantable applications and will house the company's headquarters as well as a high-tech testing lab. It is anticipated that the facility will be occupied by late 2016, with production starting in early 2017.
December 24, 2015
1 Min Read
As many as 20 full-time positions will be created by 2019, according to the company, most of which will require highly skilled technicians and engineers.
RMP is currently located in the Orthovation Center, a business incubator supported by Micropulse Inc. (Columbia City, IN), which provides manufacturing and packaging services to the orthopedics sector. RMP is headed by President and CEO Lou Matrisciano, who was formerly Global Technology Director at global plastics company Quadrant EPP USA.
RMP plans to start working with customers in 2016 to develop materials and processes that fit their immediate needs in the rapidly advancing polymer market, according to a press release from the Indiana Economic Development Corp. (IEDC). RMP's expectation is that the development projects will transition into next-generation polymer products and processing technologies of broad interest to medical device manufacturers and suppliers. RMP will be one of a handful of manufacturing facilities globally that will produce the unique polymers, writes the IEDC.
Among other incentives, RMP will receive up to $185,000 in performance-based tax credits from IEDC if it meets certain goals. These tax credits are performance-based, said IEDC, meaning until Hoosiers are hired, the company is not eligible to claim incentives.
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