A smart park for global innovation

Foreign Direct Investment
| The European | 15 October 2020

Latin America’s number one Free Zone combines world-class scientific expertise and optimal infrastructure with a prime, strategic location

Coyol Free Zone is a ground-breaking industrial park located in Alajuela, Costa Rica, and is geared towards the medical device industry. Exports from the Free Zone represent 58% of all medical device exports in Costa Rica, making it an unbeatable location for life sciences clusters and advanced manufacturing companies. Its reputation is underlined by a host of awards, including recognition as the top Free Zone in Latin America by multiple entities. Coyol Free Zone has been operational for 13 years, and the team behind it have over 20 years’ experience managing best-in-class industrial parks.  

Coyol Free Zone offers much more than just tax incentives and optimal infrastructure. It also provides proven expertise in the construction of buildings for the life sciences industry, and the services required to support the successful operation of a global company. It is the base of manufacturing operations for seven of the top 30 medical devices companies in the world, currently integrated in an ecosystem of 30 companies. 

What is the secret?

Among its many attributes, Costa Rica stands out for its skilled, tech-savvy talent pool, which is underpinned by a stable democracy, fully committed to educating its people. In Costa Rica, you are never far from an air or seaport, so outstanding access to two-thirds of the global market comes as standard. To top it all off, Costa Rica has established business continuity for more than 300 multinational companies who operate under the Costa Rica Free Trade Zone Regime.

Coyol Free Zone covers over 264 acres and is close to the Juan Santamaría International Airport. It provides quick and direct access to the country’s main highways and most important seaports – it’s an unrivalled strategic location from which to operate a business. Thirty companies currently have a base there, seven of them are among the top 30 medical device companies in the world: Medtronic, Cardinal Health, Philips, Abbott, Smith & Nephew, Microvention-Terumo, and Hologic. It also offers a strong synergy with a key player in the medical equipment market, Steris, who provide electron beam and ETO sterilisation services within the park. Consequently, exports can go directly to end-markets with a Certificate of Origin of Costa Rica, resulting in significant savings in duties, transportation and warehousing.

By developing a life sciences cluster with on-site suppliers and contractors, Coyol Free Zone provides the ideal conditions for original equipment manufacturers (OEMs) to operate and an important market for medical devices suppliers and contractors. This excellence could not be achieved without an outstanding local workforce. The Free Zone’s surrounding area has a population of over 1,500,000 people, with more than 16,000 people employed one the site. In Costa Rica, clear labour laws and regulations allows for equal opportunities, and 54% of the workforce in the park are female. 

For more than a decade, Coyol Free Zone has fostered a progressive vision for recruiting and developing talent and skills for the life sciences industry. Coyol Free Zone has an on-site training centre, which offers everything from basic training courses to advanced MSc manufacturing programmes by the TEC University of Costa Rica. The courses are complemented by an online academy, which allows employees to add to their skills, and for leading-edge engineers to contribute to developing prototypes of some of the world’s newest medical devices.  

Built for success 

Innovation in building design and construction is the foundation for success for all the companies at Coyol Free Zone. Coyol’s team act as one-stop-shop solution providers for all your operational requirements. This includes pre-construction, execution, budget control, and delivery processes. In summary, a tailor-made turnkey building that complies with strict international quality standards (including FM Global, ISO: 9001 and LEED Certification) is ready and waiting for those looking to set up at the zone. 

Coyol Free Zone is the first “smart park” in Costa Rica and has the tools to offer the best and most efficient quality of energy efficiency of the highest order. This model of sustainability is underpinned by renewable power generation, innovative electricity storage, cutting-edge conditioning systems and much more besides. 

This is why businesses big and small choose Coyol Free Zone, and why once they have established a presence, 70% expand their operations within the site. 

According to Carlos Wong, Director of Coyol Free Zone: “Coyol Free Zone’s investment is comprehensive, it is a compendium of many values, which makes us the best Free Zone in Latin America. We have a world-class infrastructure and first-rate buildings that are complemented by shared services for training, staff recruitment and a great commitment to develop a green and sustainable park. Our goal is to continue energising the economy through premium real estate facilities and a highly-trained talent pool. This will allow us to continue being the best option for life sciences companies in Latin America. Our 16,000 employees are a daily motivator to be better and more efficient in what we do.” ν

Further information 

coyolfz.com

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