Laserfiche WebLink
4/5- <br /> Business and Community Development Application <br /> Part l <br /> Project Purpose <br /> Name of Community/Applicant: City of Arden Hills <br /> Project 41: <br /> CPI Guidant (CPI) is a world leader in the medical device and diagnostics industry, specifically <br /> cardiac rhythm management. In7une of 1995, CPI received approval from the Food and Drug <br /> Administration (FDA) for the market release of their VIGOR DR and SR pacemaker systems. <br /> The VIGOR DR and SR pacemaker systems use an advanced accelerometer technology to <br /> morutor the patient's physical activity and provide rate modulation to meet the patient's needs. <br /> The market release of VIGOR DR and SR brings the total of new CPI products introduced into <br /> the United States market to nine (9), since the start of 1995. <br /> In August of 1995, CPI approached the City of Arden Hills requesting assistance in retaining up <br /> to 450 jobs and then expanding their operations in Arden Hills. CPI currently owns a 315,000 <br /> square foot facility in Arden Hills and leases an additional 119,000 square feet in Arden Hills • <br /> and Shoreview. Additionally, CPI currently owns 954,000 square feet of facilities in: Dorado, <br /> Puerto Rico; Santa Clara, California; and Temecula, California. CPI was considering relocating <br /> 70 to 90 professionals to their Temecula operation and 350 to 450 manufacturing jobs to their <br /> Dorado, Puerto Rico facility. <br /> Also, in August of 1995, the Minnesota Department of Trade and Economic Development <br /> (DTED), with the assistance of the City of Arden Hills and the Metro East Development <br /> Partnership (Metro East) prepared a proposal to CPI to retain these jobs and requested them to <br /> expand their operations in Minnesota, and specifically Arden Hills (Exhibit A). CPI concurred, <br /> and is in the process of consolidating their operations in Arden Hills. CPI is leasing 94,462 <br /> square feet, with an option for an additional 35,317 square feet (Exhibit B), from Control Data <br /> Corporation (CDC) which has a facility directly adjacent to CPI's Arden Hills campus. <br /> It is currently estimated, by CPI, that the consolidation and expansion costs will be <br /> approximately S 14,550,000 to S 16,550,000 through June of 1996 (Exhibit Q. The consolidation <br /> and expansion costs include: Architectural and Engineering design (550,000); Demolition <br /> (5200,000); Renovation (51,200,000); Telecommunications (5800,000); Moving (5300,000); and <br /> Equipment (S12,000,000 to S14,000,000). <br /> 3A • <br />