Obamacare medical device tax killing jobs in the industry

Hot Air reports:

An Indiana-based medical device company is canceling plans to build five new plants in the Midwest because of the hit it will take from the 2.3 percent excise tax imposed by Obamacare.

The new tax will cost Cook Medical Inc. between $20 million and $30 million a year, Pete Yonkman, executive director of Cook’s strategic business told the Indianapolis Business Journal, limiting the amount Cook can spend on new plants. It took $30 million to revamp an abandoned factory in Canton, Ill. last year that will eventually employ 300 people in this small town.

“We had hoped, as we get bigger, that that would be our model for expansion,” Yonkman told the Indianapolis Business Journal. “To take these small manufacturing facilities and bring them to these communities, that had been hard hit by jobs leaving because they work ethic is amazing and the people are really supportive and excited.”

Great moments of ObamaCare.