HARRISBURG, Pa., Aug. 4, 2015 /PRNewswire-USNewswire/ -- Governor Tom Wolf announced today that Tyber Medical LLC, an orthopedic device company that develops and markets implants in the spine and trauma markets, will establish a new site in Hanover Township, Northampton County to serve as its corporate headquarters and manufacturing operation, a move that will create 25 new, full-time jobs.
"Tyber Medical's decision to relocate to Pennsylvania and create more than two dozen, high-paying jobs is great news for the region and state," Governor Wolf said. "Medical device manufacturing is a thriving sector and will continue to create good-paying jobs through the significant reforms proposed my budget plan."
Tyber Medical will relocate its corporate headquarters and manufacturing operations from Morristown, New Jersey and leasing 4,200-square-foot site in Hanover Township, Northampton County. The company plans to invest $386,600 on the project, and has also committed to the creation of 25 new, full-time jobs over the next three years.
Tyber Medical received a funding proposal from the Department of Community and Economic Development including a $50,000 Pennsylvania First Program grant, $75,000 in Job Creation Tax Credits, and was also encouraged to apply for a $165,000 loan from the Pennsylvania Industrial Development Authority for machinery and equipment. Governor Wolf's 2015-2016 budget invests an additional $25 million to the PA First program.
"Pennsylvania's initiatives are aligned with Tyber Medical's strategy to expand in a centralized location with close proximity to leading academic institutions," said Jeff Tyber, CEO and president of Tyber Medical. "The growing diversity of the medical device industry in the Lehigh Valley provides an outstanding opportunity to interact more directly with our customer base."
The project was coordinated by the Governor's Action Team, an experienced group of economic development professionals who report directly to the Governor and work with businesses that are considering locating or expanding in Pennsylvania, in collaboration with Lehigh Valley Economic Development Corporation.
"We're very pleased that Tyber Medical has chosen to grow and create new, full-time jobs here in the Lehigh Valley," said Don Cunningham, CEO and president of the Lehigh Valley Economic Development Corporation. "Health care is the region's leading sector in terms of job creation, and the Lehigh Valley boasts many economic assets that make it an ideal location for the industry, including its strong workforce, well-developed transportation infrastructure, and proximity to major northeastern markets like New York City and Philadelphia."
Tyber Medical LCC is a private label orthopedic device company that develops and markets implants in the spine and trauma markets. The company was founded in August 2012 and in September 2013; it received FDA and CE mark clearance for its spine devices. Tyber further expanded its product portfolio with 14 additional product lines in the trauma and extremity markets in March 2014. Implants are most often used in conjunction with proprietary branded devices produced by companies ranging from small start-ups to large corporations.
For further information on Tyber Medical LLC, visit www.tybermedical.com.
For more information about the Governor's Action Team, visit www.newpa.com.
Jeff Sheridan, Governor's Office, 717-783-1116
Lyndsay Kensinger, DCED, 717-783-1132
SOURCE Pennsylvania Office of the Governor