Franke Plating Works, a plating company in the northeast region of the Hoosier State, plans to invest $1.1 million to upgrade and expand its production facility just east of downtown Fort Wayne, Indiana.
The company specializes in plating, the process of applying a metal coating or other treatment to the surface of a metal part of component to make components stronger, more durable, more adhesive or thicker. Franke Plating Works serves a worldwide client base in a variety of industries, including automotive, aerospace, agriculture, defense and medical, and has plated parts to handle the rigors of flight abroad NASA spacecrafts.
As its client base continues to expand, the company will add new equipment and make improvements to its production facility, located at 2109 E. Washington Blvd., near its headquarters at 1918 E. Wayne St. The improvements will allow for more flexibility and the ability to plate a more diverse set of parts. This expansion will also more than double the company's current production capability.
"We're proud of the company we've built here in Fort Wayne," said Warren Franke, Owner of Franke Plating Works. "We've been in business for almost 90 years, and we're still going strong. As we grow, we remain committed to our longstanding principles: competitive pricing, quick turnaround time and consistent client communication from our dependable staff."
The IEDC offered Franke Plating Works up to $165,000 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. Northeast Indiana Works offered additional incentives.
Franke Plating Works' facility is located within the Summit City Entrepreneur and Enterprise District, an industrial area in central Fort Wayne. The district was established to foster the growth of new and established businesses, create and retain jobs, make physical improvements within the district and enhance the well-being of area residents.
"Indiana’s small business owners are a crucial part of our economy, supporting more than 1.2 million quality jobs across the state,” said Elaine Bedel, President of the Indiana Economic Development Corporation (IEDC). “Franke Plating Works is one of these success stories, having a strong presence in the northeast Indiana region for nearly 90 years. This expansion will ensure the company’s continued contributions to the Fort Wayne community, while enabling Franke Plating Works to grow and better serve its clients across the globe from here in the Hoosier state.”
"Fort Wayne continues to experience positive job growth and private investments," said Fort Wayne Mayor Tom Henry. "WE appreciate the excellent work that Franke Plating Works performs for its customers and congratulate them on their upcoming expansion. Franke Plating Works is a homegrown company and vital part of our ongoing commitment to be a point of destination city for individuals, families and businesses."