New Haven-based Continental Diamond Tool Corp. says it is already outgrowing its new facility. The Journal Gazette in Fort Wayne reports the manufacturer is seeking tax abatement on a $5.5 million investment that could add around 150 jobs. CDT moved into the current facility last year and says the expansion would include 15,000 more square-feet onto its operation.
The publication says the company currently employs 135 and the new jobs will be brought in by then end of 2023. Continental Diamond is seeking tax abatement and an economic revitalization area designation from the small northeast Indiana city. A public hearing has been scheduled by the city council for October 23.