An Allen County medical wire producer is planning to expand. Fort Wayne Metals says it will invest nearly $30 million to build a new facility on its northeast Indiana campus and create more than 100 jobs by 2017.
March 12, 2014
Fort Wayne, Ind. — Fort Wayne Metals, a research, development and fine grade medical wire producer, announced plans today to expand its operations here, creating up to 106 new jobs by 2017.
The Fort Wayne-headquartered company will invest $29.4 million to construct, renovate and equip a 33,000 square-foot facility on its 50-acre Ardmore Avenue campus in Fort Wayne, 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 Fort Wayne, 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. Interested applicants can apply online at www.fwmetals.com/careers.
“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 IEDC and Greater Fort Wayne Inc. as we continue to grow our worldwide business right here in Fort Wayne.”
Founded in 1946 in Fort Wayne, Fort Wayne Metals is an industry leading supplier of high-quality precision wire, strands, cables and component assemblies. The company’s products are used in various medical device markets including vascular therapy, cardiac rhythm management, endoscopy, orthopedics, dental, neuromodulation, neurostimulation and industries where demanding applications are a necessity. The company also has a production, warehouse and sales facility in Ireland and sells to customers around the world.
The Indiana Economic Development Corporation 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.
“The investment being made by Fort Wayne Metals is great news for our local economy as we continue to be a leader in economic development and job growth,” said Fort Wayne Mayor Tom Henry. “Fort Wayne Metals is sending a strong message that our city is a place to invest and grow.”
About Fort Wayne Metals
Fort Wayne Metals Research Products Corporation is headquartered in Fort Wayne, Indiana, with production and distribution in Castlebar, Ireland, sales offices located in the Netherlands, China and Brazil, and distribution representation throughout the United States, as well as in Japan and Israel. For more information, visit www.fwmetals.com or contact Customer Service at (260) 747-4154.
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.
The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.
Source: Indiana Economic Development Corp.