Edwards Lifesciences to open new Utah facility

Edwards Lifesciences plans new facility in Utah, expanding manufacturing capabilities

• On 1:33 pm EDT, Thursday October 8, 2009

IRVINE, Calif. (AP) -- Heart device maker Edwards Lifesciences Corp. said Thursday it will open a new manufacturing facility in Draper, Utah, its second plant in the state.

The company said it is opening the facility in anticipation of future growth. The facility will give the company more manufacturing and research and development capability.

Edwards said it accepted incentives from Utah of about $11.5 million based on the current 228 jobs being retained in the state and more than 1,000 projected new jobs expected to be created in the state during the life of the 15-year incentive period. The company also accepted an incentive from Draper for about $3 million based on capital investments and employment rates over a seven-year period.

The company expects to transfer some manufacturing, including its cannula and embolic protection devices, from its existing Midvale, Utah facility to the new facility in the first half of 2010.

Shares of Edwards Lifesciences rose 71 cents to $69.76 in afternoon trading.