Date: January 13, 2010
Source: Stericycle Inc.
Medical Disposal Provider to Expand In Indianapolis
Stericycle Inc. (NASDAQ: SRCL), a provider of medical waste disposal services, announced today that it will expand its operations here, creating up to 109 new jobs by 2011.
The company, which provides medical and prescription drug waste disposal; device, pharmaceutical and consumer product recalls; and expired pharmaceutical returns, among other services, will invest more than $390,000 to consolidate product return operations from Florida and Georgia to its existing facility near the Indianapolis International Airport.
"As companies evaluate the best way to stay competitive in a challenging national economy, Indiana continues to offer a tax friendly business environment," said Governor Mitch Daniels. "This is a tremendous success for central Indiana and we look forward to the new investment and jobs that Stericycle will bring."
The Return Management Services division of Stericycle, which currently employs nearly 350 associates in Indianapolis, plans to begin hiring additional warehouse and supervisory associates immediately as operations are transitioned to the city. The company's Indianapolis facility is home to Stericycle's product recall and returns processing center that features advanced product handling equipment and systems to quantify, qualify and quarantine product.
"Continued innovation and creativity in our services, combined with a passion for customer service and results is the key to our success," said Mike Collins, president of Stericycle's Return Management Services Division. "Our Indianapolis facility has been the flagship headquarters for our industry-leading recall and returns operations since 1994. We are eager to build on this leadership position in the industry and throughout Indiana by expansion and optimization of our services."
Founded in 1989, the Lake Forest, Ill.-based company employs more than 6,500 associates at facilities in North and South America and Europe. The company serves more than 440,000 customers worldwide.
The Indiana Economic Development Corporation offered Stericycle Inc. up to $330,000 in performance-based tax credits and up to $20,000 in training grants based on the company's job creation plans. The city of Indianapolis will support additional property tax abatement at the request of Indianapolis Economic Development, Inc.
"We're seeing quite a trend lately of companies choosing to consolidate their operations from other cities to Indianapolis. Stericycle is yet another example of that," said Mayor Greg Ballard. "Our low costs of doing business, location and talented workforce continue to make Indianapolis a strategic choice for growing businesses."
Stericycle's announced expansion follows technology consulting firm BC Forward's December announcement that it will invest nearly $2 million to expand its Indianapolis headquarters, creating more than 200 new jobs by 2012.
About Stericycle Inc.
Founded in 1989, Stericycle is a leading provider of regulated medical waste management and product recall and return services in the United States. Worldwide, Stericycle provides medical waste management services to over 440,000 customers in the United States, Canada, Mexico, Argentina, Chile, Puerto Rico, Romania, Ireland and the United Kingdom. The company also serves pharmacies, distributors and manufacturers of pharmaceutical products by managing the return and disposal of expired or surplus pharmaceutical products and by managing the recall of pharmaceutical products being recalled by the manufacturer. For more information visit www.stericycle.com
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Mitch Roob serves as the chief executive officer of the IEDC. For more information about IEDC, visit www.iedc.in.gov.