Setback for effort to keep manufacturing plant
A national newspaper reports that complications have arisen over Medtronic’s effort to buy Covidien, and Oconee’s economic development recruiter admits the complications don’t bode well for the county to convince the buyer to keep the seller’s plant operating near Seneca. But Richard Blackwell says it hasn’t stopped Oconee’s effort to hold onto the long-time maker of medical products. The Wall Street Journal this week reported that Covidien has come under scrutiny by the federal government over a controversial tax tactic. The paper also reported that, as part of the deal to sell, Medtronic of Minneapolis, Minnesota would leave the U-S and re-incorporate in Ireland, where Covidien is based.