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EDIC approves five-year exemption for Corvent Medical as company expands ventilator manufacturing in Fargo
Summary
Corvent Medical, which received FDA 510(k) clearance for its ventilator product last November, received committee approval for a five-year exemption to expand manufacturing space in the Prax Building; the company says it has exceeded earlier job and payroll commitments and plans additional hires.
The Economic Development and Investment Committee approved a five-year property-tax exemption application from Corvent Medical to expand manufacturing and warehousing space in the Prax Building, a move the company says will support additional hiring and increased production of critical-care ventilators.
Richard Walsh, identified as CEO of Corvent Medical, summarized the company's growth since locating in Fargo in 2021, saying the firm grew from initial engineering and R&D work at North Dakota State University locations into a manufacturing operation in the Prax Building. "In the last 12 months, all of the medical ventilator companies that were here in The United States have left. We are…
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