Fort Wayne Metals, which produces precision wire, strands and cables for the medical device industry, has announced plans to expand its Allen County, IN operations, creating up to 337 new jobs by 2021. The company, which was established in Fort Wayne in 1946 and now has operations across the world, will invest $51.1 million to expand and enhance its northeast Indiana operations.
“As we continue to be innovative leaders of life-saving, high-quality material solutions, we are experiencing a global increase in demand,” said Troy Linder chief financial officer of Fort Wayne Metals. “Our investment in facilities and people will help build the infrastructure necessary to meet this demand, and we are excited to be able to partner with the IEDC and Greater Fort Wayne Inc. to continue to expand our footprint in Fort Wayne”.
To meet growing demand for its products, the company plans to construct a two-story, 40,000-square-foot addition to its corporate office building and will also revitalize a nearby 60,000-square-foot building, which the company recently purchased for expansion. With construction scheduled to begin this year, the project will increase the company’s production capacity for precision wire and wire-based components for the medical device industry and other critical applications.
Fort Wayne Metals’ products are distributed globally and used in various medical device markets, including vascular therapy, cardiac rhythm management, endoscopy, orthopedics, dental, neuromodulation and neurostimulation. The company is one of 1,687 life sciences firms in Indiana that employ more than 56,000 people. According to BioCrossroads, these firms help Indiana export $9.6 billion of life sciences products annually, ranking No. 2 in the nation.
Fort Wayne Metals currently employs more than 800 full-time associates at production facilities in Indiana. The new jobs will be created in all areas of the business, including production and maintenance, business systems, thermal processing, statistical process control, regulatory compliance, production maintenance, environmental safety and more.
“I continue to be encouraged by the job growth and private investment we’re experiencing in our community,” said Fort Wayne Mayor Tom Henry. “We’re appreciative of the commitment by Fort Wayne Metals. Their decision to expand and add hundreds of new jobs is another example of the positive momentum we’re seeing in Fort Wayne.”
The Indiana Economic Development Corporation (IEDC) offered the company up to $84,000 in training grants and up to $3,449,000 in conditional tax credits based on the company’s job creation and investment plans. These incentives are performance-based, meaning that until employees are hired, the company is not eligible to claim the incentives. The city of Fort Wayne and Northeast Indiana Works will consider additional incentives at the request of Greater Fort Wayne Inc.
“Indiana has earned a reputation as one of the world’s leading medical device hubs,” said Governor Eric J. Holcomb. “Every day, Hoosiers are at work developing new life-saving solutions, and I’m excited to see that trend continue with the growth of our life sciences sector and industry-leading firms like Fort Wayne Metals.”
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