New Haven-based Continental Diamond Tool Corp. is planning a new $12 million facility in the Allen County city. The Journal Gazette reports the longtime manufacturer is looking to more than double its current 70-employee work force.
CDT is seeking tax abatement on the project from the city. The investment will cover the new building, manufacturing equipment, research and development space and information technology equipment. Construction could begin as early as this month.
In 2014, the company announced an expansion of its current facility and plans to add nearly 50 workers.
The news continues a big month for New Haven. Last week, Ohio-based Sauder Manufacturing Co. detailed plans to invest $3 million and create up to 60 jobs.