Story excerpt provided by Crain’s Cleveland Business.
Written by Chuck Soder.
CardioInsight is moving to Independence, Ohio. And the state wants to make sure it stays there for a while.
The medical device company, which was bought by Medtronic for $93 million last year, received a state tax credit that requires it to remain in Independence for at least eight years.
The state believes it’s an important to “anchor the company here,” according to a document describing the tax credit. The state described Medtronic as a “worldwide leader in the biomedical industry.”
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Originally published March 1, 2016.