Musical Instrument Manufacturer Sweetwater Sound Expands Fort Wayne, Indiana, Headquarters
The homegrown Hoosier company will invest $8.8 million over the next several years to expand its headquarters and 320,000-square-foot campus at 5501 U.S. 30. The first of several expansion projects will be a 16,000-square-foot facility to house the company’s marketing and merchandising departments as well as a new state-of-the-art video studio to support the company’s sales and branding efforts.
“Sweetwater continues to grow at a remarkable pace, both in sales and in number of employees,” said Chuck Surack, Founder/President of Sweetwater. “In 2014, sales were up by 28 percent over the previous year, and we anticipate similar results for 2015. New expansion of our campus will build our capacity to ensure that we remain the country’s most respected dealer in instruments and high-technology equipment for musicians, recording studios and broadcasters.”
Construction is expected to begin this fall and the company anticipates hiring for professional marketing positions later this year. The company y expects total full-time employment to reach 1,000 associates by the end of 2018, according to the the Indiana Economic Development Corporation.
This is the company’s second major expansion in recent years. In 2012, Sweetwater announced plans to invest $23.5 million to expand its headquarters by 110,000-square-feet and create more than 300 jobs. The company continues to grow, averaging a 20 percent increase in sales and 15 percent increase in employees annually in recent years, IEDC officials said.
The Indiana Economic Development Corporation offered Sweetwater Sound up to $2,000,000 in conditional tax credits and up to $50,000 in training grants based on the company’s job creation plans announced today. These incentives 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.
“Sweetwater’s growth in Indiana is outstanding news for Hoosiers as it continues its legacy to dramatically expand its headquarters team,” said Governor Mike Pence. “This expansion is the latest high note for Indiana’s economy, which now employs more Hoosiers than at any time in our state’s history. Our Hoosier business climate offers pro-growth principles that businesses need to succeed, leading homegrown companies like Sweetwater to continue choosing Indiana for job creation.”
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