WARSAW — A fast-growing orthopedic supplier announced plans to expand and was granted tax abatement from the city of Warsaw.

Instrumental Machine & Development, known by many as IMD,  plans to add about 34 new jobs by 2022, according to a news release made available to the media at the city council meeting Monday night, Oct. 7.

“Today’s announcement is about adding the people, equipment and floorspace we need to grow alongside our nationwide customers, said IMD President Todd Speicher.

IMD manufactures surgical instruments. While the company’s biggest customer is out of state, they also work with local orthopedic companies, Speicher said.

IMD was started in 1991 and moved to its current location at 2098 N. Pound Drive, on the city’s north side, in 2005.

The company currently has 36,000 square feet of workspace but will add 26,000 square feet with the new addition.

IMD currently employs 98 people.

On Monday night, city council passed two requests involving tax abatement. The first was a waiver of non-compliance because some of the equipment the company purchased for expansion was done so before tax abatement was approved. Normally, companies obtain approval before purchasing equipment.

The other step was the formal abatement request. The project will include additional manufacturing equipment cost of about $1.1 million and real estate improvements of about $3.2 million.

The abatement will extend over a 10-year period.

As part of the expansion, the Indiana Economic Development Corporation offered up to $230,000 in conditional tax credits based on the company’s job creation plans. “Indiana’s economy is thriving thanks to businesses and job creators like Instrumental Machine & Development,” said Elaine Bedel, president of the IEDC.

Kosciusko Economic Development Corporation made the tax abatement request alongside company representatives.

“Today’s announcement is a reminder that Warsaw’s status as the Orthopedic Capital of the World involves companies of all sizes that work with customers in our community and worldwide,” said Mayor Joe Thallemer.