MBJ: California robot repair facility gets DeSoto County incentives

MBJ: California robot repair facility gets DeSoto County incentives

The DeSoto County Board of Supervisors approved 10-year partial property tax incentives for Intuitive Surgical Inc (NYSE: ISRG) on May 15. The company leases warehouse space in Hillwood’s DeSoto Trade Center at 710 Venture Drive in Southaven. The location opened in 2016 and currently employees 40.

In December, the board approved the company for a Free Port Warehouse tax exemption. Governing authorities in the state can grant warehouse or storage facilities full exemption from property taxes on finished goods that will be transported outside of the state for any period of time.

Sunnyvale, California-based Intuitive Surgical develops, manufactures and markets robots for minimally invasive surgery, including the da Vinci system. As of Friday, May 19, Intuitive Surgical’s stock traded at $871.30 per share.

Jim Flanagan, president and CEO of the DeSoto Economic Development Council, said when a company is granted the exemption, the owners will pay the taxes and reflect their new savings in the lease rate.

At the December meeting, Harry Welch, senior manager of Intuitive Surgical’s Southaven operations, told the board that Mississippi employees moved from California to be closer to East Coast customers.

Board member Lee Caldwell asked Welch to use the WIN Job Center to hire DeSoto County residents and to contact the DeSoto County Career Tech Center.

Hospitals across the region use the Intuitive Surgical systems. Memphis’ Saint Francis Healthcare recently acquired the da Vinci Xi Surgical System, which can be used in procedures such as in hernia repair, thoracic surgery and abdominal procedures.

Intuitive Surgical was founded in 1995 and launched the da Vinci system four years later.

MBJ: California robot repair facility gets DeSoto County incentives


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