Fort Wayne Metals, a research, development and fine grade medical wire producer, plans to invest $29.4 million to expand its operations in Fort Wayne, Indiana
, creating up to 106 jobs by 2017.
The company will construct, renovate and equip a 33,000 square-foot facility on its 50-acre Ardmore Avenue campus, bringing its total footprint in the community to 553,000 square feet.
With seven production facilities, a warehouse, a research and development center and a metallurgical laboratory in the area, the expansion will allow Fort Wayne Metals to increase capacity for the production of stainless steel, nickel, cobalt, nitinol and titanium wire, as well as many composite materials in various forms.
“After doing business around the world, Indiana companies like Fort Wayne Metals understand firsthand the benefits offered by our Hoosier business climate,” said Governor Mike Pence
. “With a driving force rooted in the nation’s best workforce
, the motor of Indiana’s economy keeps growing stronger, fueled by low taxes and an environment designed for success in a state that works.”
Fort Wayne Metals, which currently employs more than 650 associates in Indiana and more than 700 around the world, plans to begin hiring for production, administrative and research and development positions this fall.
“As we continue to see growing demand for our products, both domestically and internationally, it is critical that we create an infrastructure that can support the needs of our customers,” said Troy Linder, Chief Financial Officer of Fort Wayne Metals. “Our investment is intended to meet those needs, and we are thrilled to be able to partner with the Indiana Economic Development Corporation and Greater Fort Wayne Inc. as we continue to grow our worldwide business right here in Fort Wayne.”
The IEDC offered Fort Wayne Metals Research Product Corp. up to $1,125,000 in conditional tax credits
based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives
. The city of Fort Wayne will consider additional incentives at the request of Greater Fort Wayne Inc.