The Connecticut-headquartered, OKAY Industries, a contract manufacturer of metal and plastic over-molded components and subassemblies for global medical devices, announced a major expansion of its Costa Rica operations. 

“We are grateful for our global medical device customers and the confidence they continue to have in OKAY and its talented team to manufacture critical components and assemblies,” said Jason Howey, President & CEO. “Our investments within Costa Rica and the U.S. are not only a direct response to customers’ needs but a commitment to investing in our collective partnerships to save and improve lives around the world.”

According to the firm, phase one of the expansion includes building a 62,000 sq ft world-class manufacturing facility in the new Evolution Free Zone Trade Zone business park, located in Grecia Canton in Alajuela Province.

The relocation of OKAY’s current Costa Rica operations is expected to be completed by the summer of 2024. The first phase of expansion will double the company’s current footprint to support capacity growth and demand, they said. 

Future phases will allow OKAY to expand an additional 58,000 sq ft. overall. This investment will add approximately 200 jobs to the area. They are hiring professionals in mechanical engineering, production, electromechanics and machine technicians with experience in molding. People interested in applying for a job should visit the firm's Careers webpage.

Since the US-based company opened its operations in Costa Rica 10 years ago, its business has grown exponentially alongside the major growth of the medical device industry within the country, the firm said.

OKAY is one of many international firms investing in Costa Rica. Recently, Pur Cacao, a France-headquartered company that processes cocoa seeds to export paste for chocolate-making, has inaugurated its first processing plant in Alajuela Province.

According to a report by the U.S. Newsweek online news magazine, Costa Rica attracts more international companies due to its reputation as a stable republic with the lowest volatility in the Americas.

Even though new businesses are creating jobs in Costa Rica, the unemployment rate has increased to 11.4%, according to the National Employment Survey. The data recorded from August to October shows that there are more than 284,000 people without registered jobs. Of these, 162,000 are women, making up 57% of unemployed people in the country.

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