Otto Bock must hire 40 new employees this year and 100 new employees by 2015 according to the tax abatement paperwork they signed. Word is that they will be aggressively interviewing this month to begin reaching that goal.
In addition to its investment, Otto Bock plans to create 98 new jobs over a five-year period, having just received a MEGA tax credits in support of its project. It previously considered a site in Minneapolis, Minnesota where it currently has a facility for its orthopedics division.
“We are very pleased to welcome Otto Bock to the Rochester Hills SmartZone,” said Rochester Hills Mayor Bryan K. Barnett, who attended the MEGA Board meeting. “Otto Bock’s project is the culmination of a very good year for the city’s economic development program, and brings new jobs to Michigan.”
Otto Bock is the 24th new company to locate in the community in 2010. Together, these projects represent a projected 1,180 new jobs and nearly $60 million in investment this year alone.
Otto Bock is a third generation privately held company that was founded in 1919 in Berlin, Germany as an orthopedics company. It has sales and manufacturing facilities in 40 countries, with 4,400 worldwide employees. Its global sales in 2009 topped $850 million.
About Tom and Ann Gendich