Memphis is home to 47 medical device companies that employ more than 16,800 employees according to the Greater Memphis Medical Device Council. Employment at medical device manufacturers ranges from assembly work to industrial engineering to sales representatives (TheMemphisEconomy.com, 2017) Collectively, these companies provide a $2.6 billion economic impact to Memphis and Shelby County.
Adding to the medical device manufacturing community in Memphis and Shelby County is San Diego, California-based NuVasive Inc. Under corporate pressure to consolidate the Memphis location with another office, NuVasive worked with EDGE.
Through the assistance of an eleven-year EDGE Jobs PILOT, NuVasive will invest an additional $116 million and add 15 new employees to the existing 180-person staff at the Memphis regional office and distribution facility located at 4670 East Shelby Drive. EDGE Staff projects $5,050,295 in local total tax revenues to be received during the PILOT term and $637,065 to be spent with certified minority and women-owned business enterprises and certified locally-owned small businesses.
Founded in 1999, NuVasive is the third largest medical device company in the global spine industry. NuVasive features more than 90 products including lumbar, thoracic and cervical application, neuromonitoring services, and a biologics portfolio. In 2015, NuVasive had revenues of $811 million, including sales in more than 30 countries, and employs more than 1,600 people globally.