Posted by Heidi Schwartz
Fort Wayne Metals, a research, development and fine grade medical wire producer, announced plans to expand its operations in Allen County, IN, 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 campus. With seven production facilities, a warehouse, a research and development center and a metallurgical laboratory in Fort Wayne, the expansion will allow the company 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 Gov. 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.”
“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 a supplier of 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 Indiana Economic Development Corporation offered Fort Wayne Metals Research Product Corp. conditional tax credits based on the company’s job creation plans. 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.”