Through investments and reinvestments in companies
- The industrial park has been providing quality jobs to people for 17 years.
Alajuela, April 24, 2024. Coyol Free Zone, a leading industrial park in the export of medical devices, continues its growth in a sustained and stable manner throughout its 17-year history in Costa Rica.
As a pioneer in the Life Sciences and intelligent manufacturing sectors, it is characterized by innovation and the generation of formal and quality local employment opportunities, as well as the development of communities in the province of Alajuela.
1796 new jobs were created in 2023 alone through investments and reinvestments made by world-class companies in this industrial park that operates under the Free Trade Zone Regime. These are multinationals that decided to continue trusting in the country thanks to its robust value proposition such as sustainability, political stability, legal security and highly qualified human talent.
“We are proud that after 17 years of experience in the medical device sector, companies of the highest level continue to believe in the committed and capable human talent of our park. The excellent work done by men and women makes the difference for these companies to turn their eyes to Costa Rica, and decide to invest and reinvest in the country”, explained Carlos Wong, Managing Director of Coyol Free Zone.
Since Coyol Free Zone began operations in 2007, its objective has been to attract human talent from the communities near the park. 30% of the employees come from Alajuela Central and 15% from Heredia.
One of the companies that decided to invest in Coyol Free Zone is Shockwave Medical, with its arrival on Costa Rican soil in 2023, opened 300 new jobs for the development of solutions for cardiovascular diseases. Riverpoint Medical, a manufacturer of absorbable, non-absorbable and customized orthopedic fiber sutures, decided to invest US$10 million, doubling its workforce to 140 employees in the same year. Another company that continues to grow steadily in the Coyol Free Zone is Hologic Costa Rica:
“Hologic is proud to have been the first company to have chosen Coyol Free Zone to establish its manufacturing plant in Costa Rica, a milestone that since the beginning of our operations has been fundamental to ensure our success in the country. The decision to operate within the Coyol Free Zone, recognized as one of the most outstanding industrial parks in the world, has been a key factor in the fulfillment of our purpose: to improve the quality of life of women around the world. At Hologic, this commitment is materialized through what we call the “Science of Safe,” a philosophy that requires reliability in operations that drives our innovation and guarantees the safety and efficacy of our solutions in the field of women’s health,” said Nilo Caravaca, Vice President of Operations Costa Rica & Latin America, Hologic Costa Rica.
Equal opportunities and sustainable development
With 33 operating companies, including seven of the Top 30 medical device companies in the world, Coyol Free Zone provides a total of 23,796 direct jobs and 3,000 indirect jobs through subcontractors working in construction services, security, transportation, and food, among others, which also creates an important linkage with small and medium-sized local companies.
This park also promotes a work environment with equal opportunities for men and women, where 54% of the human talent is made up of women, who with their work and dedication contribute to the development and well-being of themselves, their families, their communities and the country.
This percentage corresponds to 12,850 women in operational, administrative and managerial positions.
Thanks to its vision of innovation and sustainable development, Coyol Free Zone celebrates its 17 years of operation with the recognition, for the third consecutive year, as the Best Free Zone in the Americas by fDi Intelligence, a division specialized in foreign investment of the Financial Times, in response precisely to the process of attracting investments and reinvestments of the park, its high value-added exports, as well as the productive linkages with local companies and the constant creation of employment opportunities in the country.