By Barrett J. Brunsman – Cincinnati Business Courier
AtriCure Inc. plans to break ground in August on its new headquarters in Mason, and CEO Mike Carrel said the design reflects the company’s approach to manufacturing medical devices.
“We’ll be bringing customers in from around the world and showcasing our technology,” Carrel said. “We’re trying to show we’re a high-tech and innovative company. We wanted clean lines. Nice but not ostentatious. It’s going to be very customer-centric.”
Most of the VIP customers who visit will be doctors. The company (Nasdaq: ATRC) is best known for making medical devices to treat atrial fibrillation, a common malady characterized by an irregular and fast heartbeat.
Another goal is to create “a great environment for our employees,” Carrel said. “It’s going to be a commitment to staying in the Cincinnati area for quite some time. We have a 15-year lease.”
He shared artist renderings of what the building will look like exclusively with the Business Courier. Take a look at them by clicking on the image at right. KZF Design of Cincinnati is handling the architectural work for the entire site. The project developer is Verus Partners, and Dayton-based Danis is the general contractor.
A date for the groundbreaking hasn’t been set, but “it will be sometime in August,” Carrel said. “We’re still finalizing a couple things with the city of Mason and the contractor.”
Work should be completed by the end of 2015, and the administrative offices will move in at the beginning of 2016. The 10.5-acre campus is in the Oak Park District at Western Row and Innovation Way, near Interstate 71 in Warren County.
Manufacturing is likely to take place for a while at both the Mason site and the company’s current headquarters in West Chester, Carrel said.
Fast-growing AtriCure has become too big for its current headquarters, he said.
“We’re basically out of space right now,” Carrel said. “We’re doubling up on office space.”
The company now occupies four buildings that encompass about 50,000 square feet at 6217 Centre Park Drive in West Chester. The Mason building will encompass almost 95,000 square feet, including about 50,000 square feet devoted to manufacturing and distribution, Carrel said. He declined to disclose the estimated cost.
“We’re growing at a nice clip,” Carrel said. “We’re selling products around the world. We believe this is a multibillion-dollar market, with a lot of markets worldwide who can benefit from our technology.”
Revenue for the quarter ended June 30 was $26.5 million, which was up nearly 30 percent over the $20.4 million reported for the same period a year ago.
The new headquarters will lead to the creation of high-paying engineering and manufacturing jobs, as well as some in marketing, accounting and legal, Carrel said.
“We anticipate it will create more than 30 jobs,” he said. “We’re hiring people right now. It will be more when we have more space.”
In May, the Ohio Tax Credit Authority approved a 40-percent, six-year credit contingent on AtriCure adding at least $1.8 million in payroll by the end of 2018. That means the new jobs would pay an average annual salary of $60,000. AtriCure also must retain about 170 local jobs that total about $11.1 million in existing payroll– an average salary of more than $65,600 annually.
For the full article and photos of the new HQ click here.