Board of County Commissioners Approve Jobs Grant Incentive
The Indian River County Chamber of Commerce Economic Development Office is pleased to announce that Kessel Medical, Inc. was approved for the county’s Local Jobs Grant incentive. Kessel Medical is a medical device manufacturer that relocated to Vero Beach from Atlanta in late 2021.
In a unanimous decision, the Indian River County Board of County Commissioners approved Kessel Medical’s request for a Local Jobs Grant. The company anticipates hiring 20 new employees over the next three years, at salary levels at or above the county’s average annual wage of $51,000. Using these figures, county staff calculated that Kessel Medical is eligible for a Local Jobs Grant in the amount of up to $106,000, with payments to begin a year after the jobs are filled, paid over a 5-year period. Based on earnings, the Chamber’s Economic Development Office estimated the company’s economic impact at nearly $1.8 million, using a 1.45 multiplier for the manufacturing industry. Medical manufacturing is a targeted industry for Indian River County and the State of Florida.
Kessel Medical produces FDA-approved in-vitro diagnostics and neurosurgical implants for home and hospital use, contracting with other small medical device companies along the U.S. east coast. With 60 years combined experience in the medical industry, over 56 patents issued through the U.S. patent office, numerous national design excellence awards and a generous exit from a prior medical device start-up, the founders “felt that the next phase of their entrepreneurial journey would be best undertaken in the small slice of paradise that is Vero Beach”, explains Jack Griffis, the company’s co-founder and CTO.
“Kessel Medical is extremely pleased with the Commission’s unanimous decision to approve the jobs grant application” continues Mr. Griffis. “Since starting operations in Indian River County earlier this year, Kessel has been able to grow at a much faster rate than originally anticipated. In combination with this accelerated growth, the Jobs Grant will permit Kessel to recruit and retain high quality talent for production, operations engineering, and quality assurance support. We look forward to our upcoming facility expansion as well as bringing to Indian River County more high paying job opportunities for the population at large.”
The Chamber’s Economic Development Office is working with the owners to help them find larger space as they grow their operations.
“We are excited to have Kessel Medical a part of our growing medical community,” notes Helene Caseltine, the Chamber’s Economic Development Director. “With annual salaries paying at or above the county’s average annual wage, this calculates to approximately $1.2 million in new paychecks circulating in our local economy each year, once the company is in full operation.” The company also plans to offer competitive internships and co-operative education employment to local college and university students.
For more information on locating or expanding a business in Indian River County, call Helene Caseltine at the Indian River County Chamber of Commerce, 772-567-3491 or visit www.indianrivered.com.