updated: 5/1/2012 12:32:36 PM
Fort Wayne-based First Gear Inc. plans to invest $1.5 million in new equipment and add a small number of workers. The company makes gears for IndyCar engine manufacturers and other industries.
May 1, 2012
Fort Wayne, Ind. -- First Gear, Inc. will announce a $1.5 million dollar investment in new machining equipment on May 4. The company will also add up to eight new positions to its current team of sixteen. The company is currently located off of 7606 Freedom Way.
First Gear began its operations by producing precision gears for Indy-Car engine manufacturers. The company has since expanded outside of automobile manufacturing to aerospace, medical, food, in addition to commercial/industrial applications. Their recent expansion has created a demand for First Gear’s products and has made it necessary for them to purchase a new shaping machine for cutting gears. First Gear is eligible for a 10-year personal property tax abatement which would save them $98,155. First Gear plans to complete the project in 2012.
“Adding a new shaping machine will enable us to better meet the demand of our clients,” stated Greg Leffler, president of First Gear, Inc. “The new machine and added workforce will put us in a better position to meet the ever increasing demand for product excellence.”
“It’s always good to see innovative and industry leading companies like First Gear expanding and adding jobs. I know we have the workforce available to meet their needs,” stated Mayor Tom Henry. “For our part, the City of Fort Wayne will continue to do all we can to make the community more desirable for company expansion and a place where businesses continue to prosper.”
First Gear, Inc.
From prototypes to high volume gear cutting, First Gear is your strategic partner for outsourcing. First gear has the equipment in place to handle everything from prototypes to high volume gear shaping and hobbing. We do custom and production hobbing, shaping and grinding of spur gears and helical gears in all quantities from one gear to hundreds of thousands. To learn more about First Gear, visit first-gear.com.
The Fort Wayne-Allen County Economic Development Alliance began in 2000 as the lead organization for economic development activities throughout the county. We are a not-for-profit organization supported by Allen County, the City of Fort Wayne, the Greater Fort Wayne Chamber of Commerce and the Fort Wayne-Allen County Airport Authority. The Alliance's goal is to further the base employment of Allen County through business retention, expansion and attraction projects. To learn more about the Alliance, visit www.theallianceonline.com.