Fort Wayne Metals Invests $29.4 Million In Indiana Production Center
03/14/2014
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.
Project Announcements
Piramal Pharma Solutions Expands Lexington, Kentucky, Operations
10/04/2024
G&H Decoys Plans Corning, Arkansas, Headquarters-Manufacturing Operations
10/04/2024
Britain-Based Ultimate Defense Technologies Establishes Billings, Montana, Operations
10/04/2024
Google Plans Dorchester County, South Carolina, Data Center Operations
10/04/2024
Sirius Analysis Plans Virginia Beach, Virginia, Headquarters
10/04/2024
South Korea-Based ILJIN Plans Auburn, Alabama, Manufacturing Operations
10/04/2024
Most Read
-
Top States for Doing Business in 2024: A Continued Legacy of Excellence
Q3 2024
-
What the Latest EPA PFAS Rule Means for Site Due Diligence
Q3 2024
-
Cold Storage: The Next Big Thing in Industrial Real Estate
Q3 2024
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The Challenge of Securing Sufficient Electrical Power for Battery Cell Plants
Q3 2024
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
Semiconductors’ Fragile Relationship With Water May Be Tested
Q3 2024