The Jacksonville region has long been known as a center of growth, opportunity and leadership within the health care sector. The area is home to one of three Mayo Clinics, an MD Anderson Cancer Center and countless others, all with increasing footprints. Hospital systems in the region have invested more than $1.7 billion in expanded and new facilities to meet the needs of the explosive population growth.
While health care has been a meaningful part of regional growth, technology and exploration are at the forefront of the region’s health and biomedical industry. Medical device manufacturing, clinical trials, translational research and biomedical sciences are just a few of the specialties that drive innovation in the area.
Northeast Florida is a hub for medical device manufacturing, matched with a rapidly growing biomedical and tech community. Manufacturers such as Zimmer Biomet, Medtronic, KLS Martin Group, Thermo Fisher Scientific and Anjon Medical Technologies have a meaningful presence within the Jacksonville region, demonstrating a strong infrastructure and talent base.
Momentum has been building for quite some time. Companies like Medtronic, one of the largest medical device companies in the world, who expanded its Jacksonville-based Ear, Nose and Throat headquarters in the last decade, has been growing annually with new job opportunities, acquisitions and four product launches in recent months. And, KLS Martin Group, a global leader in innovative surgical technology manufacturing, added a new training center to its North American headquarters in Jacksonville last year. The training center is designed for an innovative exchange of ideas among physicians, engineers and other employees, and includes a bio-skills laboratory on the campus.
Two attributes for the region’s rise of medical device manufacturing are the access to a skilled workforce and a low-cost tax climate. With a skilled workforce of more than 90,000, employment growth in Jacksonville in the health and biomedical industry continues to outpace the national average. Local health and biomedical companies cite the benefits of having top-notch curriculum for their field with the leading educational institutes of University of North Florida, Jacksonville University and Florida State College of Jacksonville. The region is also near the University of Florida and Florida State University allowing companies to further tap into the growing talent base of skilled health care and tech graduates.
The tax environment provides one of the most favorable for both businesses and individuals alike. Florida continues to be one of the top states in which to do business with zero state income tax and as well as zero sales and use tax on goods manufactured or produced in Florida for export outside the state and no sales/use tax on co-generation of electricity, just to name a few.
With a growing health and tech workforce, training programs and the numerous and meaningful tax benefits, the Jacksonville region is well positioned to bolster growth of medical device manufacturing in the near and long term and will continue to foster success through innovation and business-friendly solutions.