In a boost to Minnesota's growing medical technology sector, global health technology leader Philips is investing $31 million to expand its operations in Plymouth. 

The company said its investment will increase manufacturing capacity and enhance the company's Image-Guided Therapy Devices division, which produces advanced medical scanning equipment.

"To meet the needs of patients, it's vital that we accelerate innovation," said Stacy Beske, senior vice president and business leader.

The expansion includes the construction of a new Global Customer MedTech Training Center, expected to host around 2,000 visitors annually. The facility will play a key role in educating and training health care professionals from around the world, company leaders said. 

"We'll have a state-of-the-art physician education and training center which will result in the development of a center of excellence for emerging technologies such as AI, and the creation of many new jobs," said Beske.

Philips anticipates creating more than 150 new jobs in Minnesota as part of the expansion, with the average salary for those positions projected to be around $100,000. Gov. Tim Walz visited the Plymouth facility Thursday, two months after returning from a business mission to the Netherlands, where he personally advocated for the investment to Philips' leadership.

"This team and this collaboration under the vision of Philips, that's how you bring manufacturing back," said Walz. "Those are the jobs you want to see and Minnesota once again establishes ourself as the hub of biotech innovation because of it."

To support the project, the state of Minnesota is awarding $3.5 million through the Department of Employment and Economic Development's (DEED) Job Creation Fund and Minnesota Investment Fund.

"Even though there's a number of question marks around the economic future, Minnesota enters this moment with a lot of momentum," said DEED Commissioner Matt Varilek. "We have built up some steam over the last couple of years."

Currently, Minnesota is home to more than 15,000 health care companies, employing over half a million Minnesotans. With Philips' new investment, state leaders are optimistic this momentum will continue to position Minnesota as a global hub for medical technology and innovation.