Smith & Nephew to add 100 jobs in $29m Texas expansion

Smith & Nephew (NYSE:SNN) today announced a $29 million project to expand its Fort Worth, Texas-based facilities, which looks to add an additional 100 jobs.

As part of the expansion, the London-based company has received a grant worth $730,000 from the Texas Enterprise Fund, according to a posting from the Office of the Texas Governor.

“This new Smith & Nephew, Inc. project in Fort Worth is just the latest example of the growing diversity of Texas’ strong economy. The manufacturing and medical technology industries continue to boom in Texas and especially in the Fort Worth area, and this project is further proof of that success. I thank Smith & Nephew, Inc. for their continued investment in our economy and for creating hundreds of jobs for hard working Texans,” Texas Governor Greg Abbott said in a prepared statement.

The expansion project was competitive, with sites in Oklahoma, Tennessee and Hull, England competing for the investment from Smith & Nephew.

“Smith & Nephew is thrilled to partner with state and local government to bring new manufacturing jobs into Tarrant County. Fort Worth is already the U.S. headquarters for our advanced wound management business, and home to a team with a deep expertise in wound care biotherapeutics, important and novel treatments used by clinicians to improve the lives of many thousands of patients every year. This is an important investment for Smith & Nephew that will secure our manufacturing process in this area and create many high quality jobs for local scientists, engineers and technicians,” Smith & Nephew global ops prez Matt Stober said in a press release.

Fort Worth agreed to knock 55% off the company’s city property taxes as part of the deal, dependent upon the company meeting hiring and investing requirements, according to the Dallas Morning News.

“We are very excited that Smith & Nephew has chosen to expand their operational presence in Fort Worth. Our community has a strong interest in advancing opportunities in bio-tech and medical innovation and see this partnership with Smith & Nephew as a key component in those efforts. Fort Worth’s commitment to supporting medical and life services companies is perfectly suited for international manufacturers like Smith & Nephew and the support of the State was instrumental in bringing this project to fruition,” Forth Worth economic development department director Robert Sturns said in prepared remarks.

Last week, the U.S. Court of Appeals for the Federal Circuit upheld a Smith & Nephew patent in a spat between the company and Hologic (NSDQ:HOLX).

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