New medical center healthy for patients, economy
Need a hip? Knee? Spinal disc?
DePuy is working on it.
And by next year, surgeons and medical professionals from around the world will converge on the company’s new Education and Research Center to get a closer look at the latest in head-to toe-hardware.
“Today is an exciting event in a series of exciting events,” Ed Mackey, vice-president of worldwide operations for the Depuy Franchise, said at a groundbreaking ceremony Wednesday in Raynham Woods Commerce Center. “We are pleased we have brought the dream to fruition. This was long overdue.”
The $18 million, 70,000-square-foot facility will be the largest product development, testing and training center on the East Coast.
Located next to the existing Depuy building housing Johnson & Johnson’s spine, trauma, neurosurgery and sports medicine businesses, it will be the training hub for orthopedic body parts for DePuy Orthopaedics, DePuy Spine, DePuy Mitek and Codman.
The center will have a 200-seat auditorium, operating rooms, laboratories and classrooms.
“Three thousand surgeons worldwide will be training here right in your back yard,” Mike Mahoney, Depuy worldwide company group chairman, told local officials.
About 300 medical education and training programs are scheduled for the first year. The original J&J building went up in 1989 as the first occupant of Paramount Drive.
Mackey called the new building “the perfect evolution” for the Raynham campus. He applauded town officials for their help.
“The boards worked to see this project come to fruition as much as we did,” he said.
The company surveyed other sites, including Atlanta, before settling on Raynham, he said. The town’s location near Boston and Providence hospitals was a big draw and “the tax incentives helped strengthen the case,” he said.
Those tax breaks, so-called “tax increment financing” deals, encourage companies to build and expand locally. The T.I.F. agreement will save Depuy almost 40 percent in property taxes over its 13-year term. The deal is also a boon to the local economy.
The business will generate $1.5 million in new property tax and growth revenue over 13 years. Town Planner Richard McCarthy said the deal is also “end-loaded,” meaning the town will reap the most money during the early years.
The 13-year plan gives Depuy a 10 percent cut in property taxes in the first year. The tax reduction increases to 20 and 30 percent in the second and third years and to 45 percent over the next nine years.
“Usually T.I.F. agreements are front-loaded. I worked it out to get more money for the town up front to allow other growth to come in,” McCarthy said.
Visitors attending the training sessions will also spend many millions of dollars in local restaurants and hotels and spike local hotel occupancy taxes.
“Circulating this money locally is significant,” he said.
The expansion will be completed in 2009. The center is being designed by PDA Associates Inc., a division of Dacon Corporation of Natick, and construction is being done by Dacon.