Study: Cook Medical Plant to Bring Big Impact
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Indiana University’s Public Policy Institute is estimating the Cook Medical manufacturing facility under construction on the northeast side of Indianapolis will have an annual economic impact of nearly $26 million for Marion County.
The Bloomington-based medical device maker specifically chose the location at 38th Street and Sheridan Avenue because it is trying to improve the impoverished neighborhood.
The PPI figure is based on direct, indirect and induced spending by the operational plant and its workers.
“We hope that the PPI study offers a roadmap for other businesses to follow. Our communities desperately need the resources, expertise and skills that industry can bring to the table,” said Pete Yonkman, president of Cook Medical and Cook Group.
The $15 million, 40,000 sq. foot facility is scheduled to begin production in the first quarter of this year.
Cook says the project was constructed using 100% local and diverse vendors. It also intends to hire its 100 employees from the surrounding neighborhood.
“The community has been very clear that they wanted us to build with them, not on them. Every step of this project has been designed with that in mind,” said Yonkman.
While Cook is building the facility, the workers will be employees of Goodwill Commercial Services. Click here to learn more about the PPI report.