• Costa Rica Coffee Guide

St. Jude Medical to invest $670 million in Costa Rica

September 10, 2010

 

The Minnesota-based medical supply company St. Jude Medical inaugurated a new plant in the El Coyol Free Zone in Alajuela, northwest of San José. The company plans to invest an estimated $670 million in the country and employ 2,000 Costa Ricans over the next five years.  
 
In a ribbon-cutting ceremony on Friday, Costa Rican President Laura Chinchilla commented on the significance of St. Jude’s investment and the continued development of Costa Rica as a location for medical-supply foreign direct investment.
 
“The arrival of St. Jude is not only a great opportunity for Costa Rica, but also represents an enormous challenge that will test our institutional muscle,” Chinchilla said. “It obliges us to strengthen our innovation technology, commit greater effort to developing our young professionals, and keep fighting to improve the competitiveness of our economy.”
 
The St. Jude plant will specialize in producing valves for damaged or weakened aortas. The aortic valve is essential in controlling blood flow from the heart through the body.
 
St. Jude currently employs 250 people in Costa Rica and plans to fill an additional 50 positions before the end of the year.
 
In 2009, export of medical products generated more than $1.34 billion for the Costa Rican economy and accounted for 15.5 percent the of nation’s total exports. Medical products make up the second largest of the country’s exports, following only microprocessors and electronic components, which account for more than 20 percent of exports.

You may be interested

5 of the Best Under-the-radar Beaches in Costa Rica
beaches
13 views
beaches
13 views

5 of the Best Under-the-radar Beaches in Costa Rica

The Tico Times - May 9, 2021

Costa Rica welcomes over 3 million tourists a year in search of tropical beaches, exciting adventures or simply an escape…

‘Worst nightmare’: Costa Rica ICUs saturated with Covid patients
Costa Rica
16 views
Costa Rica
16 views

‘Worst nightmare’: Costa Rica ICUs saturated with Covid patients

Alejandro Zúñiga - May 9, 2021

Costa Rica's public-hospital system says it can no longer offer all critical patients the attention they require due to a…

A month after crossing river into US, immigrants face harsh reality
immigration
4 views
immigration
4 views

A month after crossing river into US, immigrants face harsh reality

AFP - May 9, 2021

They crossed the Rio Grande into the United States without papers and clutching their young children. Now, thousands of Central…