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Life Sciences and Tech Companies expand investment in Costa Rica

by rpetersen

The Life Sciences and Tech sector of Costa Rica is expanding.  Microvention-Terumo announced on December 7th that it would be expanding its Costa Rica operations with the construction of a new manufacturing plant in the Free Trade Zone of Alajuela.  The projected $80 million dollar investment will generate 2,000 high skilled jobs in Costa Rica.  This is an expansion from the original investment made by Microvention in Costa Rica in 2013 when it built its first manufacturing facility outside of the United States.  The fact that the company has decided to expand operations is a clear signal that Costa Rica has been the right fit for the company and that it is betting that it will continue to be so in the future with this sizeable investment in Costa Rica.

MicroVention is a developer, manufacturer and marketer of innovative neuroendovascular technologies for the treatment of vascular diseases in small vessels. MicroVention products are sold throughout the world in more than 60 countries. Terumo Corporation is one of the world’s leading medical device manufacturers with $5 billion in sales and operations in more than 160 nations.

At the same time AstraZeneca has also expanded its operations in Costa Rica.   The British multinational pharmaceutical company which has operated from Costa Rica for more than 20 years has decided to expand by inaugurating an $8 million dollar investment in a Financial Services and Procurement center in Escazu, Costa Rica to service the North American market.   The new operation will create 60 additional bringing the total of employees in Costa Rica to 320. 

The December gifts kept on coming for Costa Rica as INTEL announced that it will restart manufacturing operations in Costa Rica with a US$350 million investment and 200 additional jobs for 2021.  This was welcome news for Costa Rica since INTEL had closed the Costa Rica manufacturing plant in 2014 and is now back with plans of expansion.   According to Ileana Rojas the General Manager of Intel Costa Rica “Intel continuously evaluates its operations around the world to ensure that the company has the right capacity to meet global demand. We will start assembly and testing operations in Costa Rica in order to expand our capacity and continue to meet the needs of our customers”

The Costa Rican Investment Promotion Agency (CINDE) has advised and guided over 300 high-tech companies to establish their operations in Costa Rica.  You currently have companies such as Baxter, Abbott Labs, Boston Scientific, Allergan, Hologic and others with manufacturing operations in Costa Rica.   

 

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