A billion-dollar medical technology maker has plans to expand its Austin-area presence with a roughly $25 million manufacturing site in Cedar Park. The public company was approved for incentives to create the facility, which is also expected to employ over 160 people in the coming years. This article details the incentives and the company's plans for the Austin suburb.
A billion-dollar medical technology maker has plans to expand its Austin-area presence with a manufacturing facility in Cedar Park that would cost at least $25 million.
Delaware-based Enovis Corp. (NYSE: ENOV) on Jan. 27 was approved by the Cedar Park City Council and Cedar Park Type A Corp. for up to $650,000 in performance-based incentives – and potentially an additional $505,000 in grants – to establish a 100,000-square-foot facility at 2105 Scottsdale Drive, according to Council documents. The investment includes creating at least 162 jobs.
Map: Officials are in negotiations to put the facility here
Enovis, which was founded in 1995 as Colfax Corp., offers a wide range of products, services and technologies, primarily for the orthopedics industry. The company reports thousands of employees at more than two dozen locations worldwide, including facilities in the Dallas area, Houston and Austin, the latter of which is a manufacturing site that expanded in 2022 at 9800 Metric Blvd.
Enovis plans to expand its surgical division, which is headquartered in Austin, to support additional manufacturing capacity and technologies at the Cedar Park site, according to Council documents. The Austin site will remain open.
The 10-year incentive provides Enovis:
Enovis is also eligible for an employee relocation bonus of $10,000 for every residence or residential lot purchased in Cedar Park by an Enovis employee, up to a maximum of $500,000, and a membership to the Cedar Park Chamber of Commerce, valued at $5,000.
“Central Texas has been home to the Enovis Surgical business for over 30 years, and we are thrilled to continue our local growth by making a commitment to expand our manufacturing operations into the city of Cedar Park,” said Tony Stallings, Enovis’ senior vice president of operations and supply chain, in a Jan. 28 statement. “Cedar Park’s high-tech infrastructure and welcoming culture will provide a great environment for our employees to thrive as they develop orthopedic solutions that healthcare professionals and their patients count on – here in Texas and beyond.”
Arthur Jackson, Cedar Park's chief economic development officer, called the announcement a "transformative moment for our city."
"This investment not only brings high-quality jobs and innovation to our community, but also sets the foundation for Cedar Park to become a hub for the life sciences industry," Jackson said in a statement. "With Enovis as a cornerstone, we’re building the infrastructure and momentum needed to attract more companies in this field and establish Cedar Park as a leader in cutting-edge medical and manufacturing advancements."
The project is in negotiations to be located in the 95-acre mixed-use New Hope project, which is a joint venture of three Austin-based real estate firms Cordova Real Estate Ventures, Riverside and Live Oak. The $250 million project is expected to total at least 430,000 square feet of industrial space, along with potentially 29,000 square feet of retail space.
Officials last year broke ground on the 26-acre, 272,000-square-foot industrial development that serves as the first phase of the project. Enovis is eyeing a portion of the 150,000-square-foot Building 3 in the development. Ryan Whalen, Dax Benkendorfer and Doug Thomas of Live Oak are handling leasing.
The project would add another injection of jobs and commercial space for Cedar Park, which has a population of about 78,000. The city has become a corporate hub, with headquarters for high-tech companies such as Firefly Aerospace Inc., Hyliion Holdings Corp. and several companies in the semiconductor supply chain. It's also attracted massive projects, like the 118-acre CedarView center, which is slated to include a Nebraska Furniture Mart and Schools sporting goods store.
That could soon include Enovis. The company in November reported third-quarter sales of $505 million, a 21% increase year-over-year, and expected full-year revenue of $2.1 billion.
“This investment highlights the strength of Cedar Park and the Austin region’s life sciences ecosystem as well as the area’s ability to support innovative companies with the talent, resources, and business-friendly environment they need to thrive," Opportunity Austin CEO Ed Latson said in a statement.