Originally Published MX November/December 2005

BUSINESS PLANNING & TECHNOLOGY DEVELOPMENT

Medtech companies looking to establish a domestic home base and still meet worldwide demand must consider their options carefully.

Lori Luechtefeld

Medical technology is frequently described as one of the most rapidly growing industries in today's business climate. One result of such favorable assessment is that economic development agencies in the United States fall into one of two categories: those that have already established their regions as hubs for medical device companies and those that want to establish their regions as hubs.

These days, a medical device manufacturer looking to put down domestic roots can expect fierce competition among states when circulating its initial request for proposal (RFP). And where a company decides to settle down will often depend on the factors it values most, be they tax breaks, direct financial assistance, business incubators, access to intellectual support and a skilled workforce, or quality-of-life considerations.