Boston Scientific plans $170M expansion in Minneapolis suburb
Photo | Courtesy Boston Scientific
Boston Scientific headquarters in Marlborough
Marlborough-based Boston Scientific plans to construct a new facility in Maple Grove, Minnesota, a spokesperson for the biotechnology and manufacturing company confirmed Thursday.
“Across Boston Scientific, we continuously align our real estate and workspace to support our business strategy as well as our growth. As part of that ongoing process, we are planning to construct a new facility in Maple Grove, Minnesota. While our project plans have not yet been finalized with the State of Minnesota, the new construction of an additional site can enable growth by adding workspace and further collaboration opportunities for our teams,” read a Boston Scientific statement provided to Worcester Business Journal on Thursday..
The company did not specify the number of jobs it expects to add at the new facility or dates for the official plan. Finance & Commerce first reported the news.
The F&C story includes details such as the expansion including a 400,000-square-foot facility with a total investment of $170 million on a 40-acre site. Boston Scientific is seeking $4.25 million in state incentives for the project.
The planned expansion in Minnesota comes after the company moved to close a manufacturing facility in Fremont, California, resulting in the layoff of 54 employees. At the time, Boston Scientific said it planned to move the work done at the California facility to a location in Minnesota. In January 2022, Boston Scientific closed a plant in San Jose, California, laying off 170, according to a 2022 WARN report.
The company announced its second quarter financials on Thursday, reporting net sales of $3.599 billion during that period, 11% growth on a reported basis compared to the same timeframe last year, according to a press release from the company. During the second quarter, Boston Scientific received clearance from the U.S. Food and Drug Administration for three health device systems.
CORRECTION: A previous version of this story incorrectly said Minneapolis / St. Paul Business Journal first reported the news of Boston Scientific's Maple Grove expansion. Finance & Commerce was the first with the news.
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