Valbruna Slater Stainless Invests $30.5 Million To Expand Its Fort Wayne, Indiana, Manufacturing Plant
The company, which is a subsidiary of Vicenza, Italy-based Acciaierie Valbruna, will invest $30.5 million to renovate and equip its Fort Wayne facilities, constructing a 166,000 square-foot addition. The expanded facility, which will be fully operational by late next year, will allow the company to increase its production capacity to meet growing demand in the U.S. for stainless steel and nickel alloy.
“We chose to continue investing in Indiana because Fort Wayne is strategically positioned in the Midwest that represents about 35 percent of the U.S. market, and it is well-served with proper infrastructure,” said Massimo Amenduni, Managing Director at Acciaierie Valbruna. “Moreover, we have access to a vast pool of skilled labor, a factor that is paramount in today’s competitive market. Last but not least, the business environment in Fort Wayne in particular, and in Indiana more in general, is conducive to growth as our recent history is clearly indicating.”
As an incentive, Indiana Economic Development Corporation offered Valbruna Slater Stainless, Inc. up to $450,000 in conditional tax credits and up to $150,000 in training grants 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. Allen County will consider additional incentives at the request of Greater Fort Wayne, Inc. Valbruna Slater Stainless, which currently employs approximately 105 full-time Indiana associates, has already begun hiring for general production, industrial maintenance, machining, engineering, business administration, marketing and material science positions. Founded in 2004, Valbruna Slater Stainless is a producer of stainless steel and nickel alloy bars available in a variety of different shapes, which are sold to companies in industries including aerospace, automotive and industrial equipment manufacturers, as well as companies in power generation, chemical processing, construction and the biomedical industry.
Indiana’s ability to attract and bolster manufacturing investment reinforces the Hoosier State’s global reputation as a bedrock for business growth,” said Victor Smith, Indiana Secretary of Commerce. “Valbruna Slater Stainless knows there is a world of options when it comes to where to expand, and it chose Indiana. With our strong workforce and low tax climate, the Hoosier State proves to be a state that works for manufacturing.”
Why are Foreign Trade Zones Making a Comeback?
The New Normal in the Automotive Supply Chain
2020 Auto/Aero Site Guide
Infrastructure Investment as an Economic Stimulus Tool
34th Annual Corporate Survey & the 16th Annual Consultants Survey
Nondisclosure Agreements Best Practices When Negotiating Incentives
2019 Top States for Doing Business: Georgia Ranks #1 Sixth Year in a Row