On Jan. 12, Hanger Orthopedic Group Inc. announced that it will move its corporate offices from Bethesda, Md. to Austin, Texas. The move is expected to be completed by the third quarter of 2010.
An incentives package has been proposed by the city of Austin that would pay Hanger Inc. $50,000 a year for 10 years if it meets certain benchmarks. In order to receive the yearly payment, Hanger must have at least 133 employees in the city of Austin in each of the first 5 years and at least 250 employees in each of the last 5 years, according to statesman.com.
According to a press release by the company, the new headquarters will provide space for future growth, improved operational efficiency and an enhanced quality of life for corporate employees. Austin’s central location will facilitate improved communication for the company, its patient care centers and supporting operational locations. Hanger analyzed numerous cities nationwide for the relocation.
“As the market leader in the orthotics and prosthetics profession in the United States, we promote creativity and innovation in our business operations,” Tom Kirk, president and chief executive officer of Hanger Orthopedic Group Inc., said in a press release. “Our new location embodies this spirit and will serve as an ideal environment for us to continue our growth and disciplined diversification strategy. Additionally, we are impressed with the professionalism and the support afforded to us by the state of Texas and the city of Austin in facilitating our decision making process. Their outstanding assistance packages were a key element of this support. We would also like to recognize the helpful role played by the Austin Chamber of Commerce.”
According to the press release, the relocation is expected to provide an excellent return on investment without any negative material impact on business operations. — by Anthony Calabro