Fort Wayne Metals Announces Major Expansion

Posted: Updated:
Picture Courtesy: Fort Wayne Metals Picture Courtesy: Fort Wayne Metals

Fort Wayne Metals says it will invest more than $50 million into its Allen County operations and add more than 330 new jobs by 2021. The precision wire, strand and cable manufacturer says growing demand led to the expansion, which includes an addition to its corporate office and a new building. Fort Wayne Metals currently has more than 800 full-time employees at facilities in Fort Wayne and Columbia City.

Chief Financial Officer Troy Linder says the company is "experiencing a global increase in demand." The expansion will increase Fort Wayne Metals' production capacity for precision wire and components for the medical device industry. Construction is set to begin in 2017.

Fort Wayne Metals says the new jobs will be in areas including production and maintenance, business systems, regulatory compliance, statistical process control, thermal processing and environmental safety. Fort Wayne Mayor Tom Henry says the expansion "is another example of the positive momentum we're seeing in Fort Wayne." In addition to its North American facilities, the company has operations in Asia, Central America and Europe.

The Indiana Economic Development Corp. has offered Fort Wayne Metals more than $3.5 million in conditional tax credits and training grants based on the job creation plans. The city of Fort Wayne and Northeast Indiana Works are also considering incentives.

The state says Fort Wayne Metals is one of nearly 1,700 life sciences firms operating in Indiana, employing more than 56,000 Hoosiers. BioCrossroads, Indiana's life sciences initiative, says Indiana exports $9.6 billion in life sciences products annually, ranking second in the United States.

  • Perspectives

    • Plan Developed; Time For Action

      More than two hundred community leaders from all corners of the region gathered last week in Mishawaka for the unveiling of the first ever regional economic development plan. The plan launch marked the culmination of more than a year of work by hundreds of volunteers seeking to develop a roadmap for regional development over the next seven years. The plan comes on the heels of...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Manufacturing Exec: Indiana Has a 'Population Problem'

      The president of the Indiana Manufacturers Association says, to fill the growing number of openings in Indiana's manufacturing sector and beyond, the state needs to ramp up efforts to increase its population. "Our check engine light is on," says Brian Burton, "and it's blinking." He says the association is pushing a measure with state lawmakers that would exempt some people who move to Indiana for a job from paying state income tax for a number of years.

    • Gen Con Extends With Indianapolis

      Gen Con LLC has extended its agreement to hold its massive gaming event in Indianapolis through 2022. Last year's event attracted record turnstile attendance of nearly 208,000. For the first time in its 50-year history, the convention sold out all of its attendee badges before last year's event began. The event also added the first level of Lucas Oil Stadium, and reached Bankers Life Fieldhouse for the first time for a concert by Grammy-winning band They Might Be Giants.

    • Cummins to Design Combat Engines That Elude the Enemy

      The monstrous, larger-than-life military tanks of tomorrow could be powered by Hoosier ingenuity. A recent $47 million defense contract delivers marching orders for Columbus-based Cummins Inc.: develop the next-generation engine to power U.S. combat vehicles, and it must be stronger, but smaller, and elusive to enemies’ efforts to spot it. 

    • Three Floyds Pitching Major Expansion

      The state's largest production brewery is proposing a big expansion. Munster-based Three Floyds Brewing Co. says plans include more than 114,000 square-feet of additional manufacturing and warehousing space, expanded retail, brewpub and office facilities and a new outdoor garden area for dining. The Plan Unit Development filing with the town of Munster also includes more parking and infrastructure improvements.

    • Greenwood Approves Downtown Projects

      The Greenwood Redevelopment Commission has approved more than $4.5 million in downtown projects. They include a major exterior renovation for Planetary Brewing and a new connector road. The Planetary Brewing project is being supported by funding from the G.R.O.W. Greenwood Initiative, which is a matching grant program to help businesses along some of the city's most traveled corridors improve their aesthetic appeal. RDC President Brent Tilson says the results have been...