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Economic Outlook - The Medical Device Tax
There are nearly 6,000 people working directly, and approximately 6,000 people working indirectly in the medical device industry in the Warsaw, Indiana and Kosciusko County areas. Nearly 60% of the medical device industry and production occurs in the that same area. Orthopedic device sales coming out of the Warsaw area account for about $33 Billion annually. Effective January 1, 2013, the federal government, as part of the Affordable Health Care Act, implemented a 2.3% excise tax on gross sales of all medical devices sold here in the United States. This will have a direct and indirect affect on the region.
In This Episode
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In This Segment
The Medical Device Industry is approximately a $150 Billion industry. Effective January 1, The United States government implemented a medical device excise tax of 2.3% on the gross sales of every medical device sold in the United States. This medical device tax could have huge ramifications on the medical device industry and specifically on the Warsaw/ Kosciusko County businesses. We examine this very important issue effecting our region.
Guests
- Mark DobsonChamber of Commerce Of Warsaw
- Nick DeeterFounder and ChairmanOrtho Pediatrics
- Mark DobsonChamber of Commerce Of Warsaw