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CCP 11-30-1995
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CCP 11-30-1995
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<br /> I' 1(s <br /> :. Business and Community Development Application <br /> Part r <br /> 1 Project Purpose <br /> 1 Name of Community/Applicant: City of Arden Hills <br /> 1 Project #1: <br /> CPI Guidant (CPI) is a world leader in the medical device and diagnostics industry, specifically <br /> 1 cardiac rhythm management. In'June 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 /> 1 The VIGOR DR and SR pacemaker systems use an advanced accelerometer technology to <br /> monitor 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 /> 1 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 /> II 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 offacilitie$ in: Dorado, <br /> 1 Puerto Rico; Santa Clara, California; and Temecula, California. cpr 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 /> 1 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 /> 1 Partnership (Metro East) prepared a proposal to cpr to retain these jobs and requested them to <br /> expand their operations in Minnesota, and specifically Arden Hills (Exhibit A). cpr concurred, <br /> 1 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 /> 1 It is currently estimated, by CPI, that the consolidation and expansion costs will be <br /> approximately $14,550,000 to $16,550,000 through June ofl996 (Exhibit C). The consolidation <br /> 1 and expansion costs include: Architectural and Engineering design ($50,000); Demolition <br /> ($200,000); Renovation ($1,200,000); Telecommunications ($800,000); Moving ($300,000); and <br /> Equipment ($12,000,000 to $14,000,000). <br /> 1 <br /> t# 3A <br /> --"-"'-"- <br /> 1 <br />
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