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WEB EXCLUSIVE
Olympus America to Relocate Headquarters to Lehigh County

Pennsylvania Community and Economic Development Secretary Dennis Yablonsky announced in early April that Olympus America, an electronics and health-care products company, will relocate its headquarters to the Stabler Corporate Center in Upper Saucon Township, PA, creating 800 jobs during the next three years. The company is relocating its headquarters and its distribution center operations to the Lehigh County site from Long Island, NY.

"Olympus' decision to relocate their headquarters to Pennsylvania speaks volumes about our workforce and our friction-free business climate," says Yablonsky. "According to a survey done by the Tax Foundation, Pennsylvania ranks in the top three among Northeast states. Our business- friendly tax structure is one more reason why companies look to Pennsylvania to expand and grow. This is proof positive that Pennsylvania is on the road to a positive and productive economic recovery."

Olympus serves healthcare, scientific, and commercial laboratory markets in the U.S. and Canada. The company works collaboratively with its customers and its parent company, Tokyo-based Olympus Corp., in precision technology and manufacturing processes across diverse business lines that include digital and film cameras; digital voice recorders; gastrointestinal endoscopes, accessories, and minimally invasive surgical products; advanced clinical and research microscopes; and lab automation systems, chemistry-immuno and blood bank analyzers and reagents.

"Our company is involved in business areas that are and will remain very competitive," says F. Mark Gumz, Olympus President and COO. "We are fortunate to have strong product offerings and deep industry knowledge that, when combined with our commitment to being customer-centric, have enabled us to achieve market-lending positions in many of our business lines. However, our past performance is no guarantee of future success. This relocation is one of the most critical factors that will contribute to our positioning the company for profitable growth for the next 25 years and beyond."

The Governor's Action Team, economic-development professionals who report directly to Governor Ed Rendell, worked with Olympus to bring the company to the Lehigh Valley. To support this project, the Pennsylvania Department of Transportation agreed to provide $10 million to upgrade the roadway at Rt. 309 and the Center Valley Parkway. The site is also located in a Keystone Opportunity Zone. The Lehigh Valley Economic Development Corporation also was a key partner in bringing this project to the Lehigh Valley.

Olympus expects to be in its new location by August 2006.