Fort Wayne, Ind. – Fort Wayne Metals announced it will begin an expansion of its headquarters facility on Ardmore Avenue just north of Fort Wayne International Airport. Fort Wayne Metals operates 11 facilities in the greater Fort Wayne area as well as one in Castlebar, Ireland. The company is a globally recognized leader in the research, development, and production of fine grade medical wire; its expertise lies in stainless steel, nickel, cobalt, nitinol and titanium alloys as well as many composite materials in various forms. Fort Wayne Metals will begin construction immediately and projects to be completed in December of 2014.
“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. 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,” said Chief Financial Officer Troy Linder.
Fort Wayne Metals plans to invest $17.7 million over the next two years, adding 33,000 square feet to accommodate the physical growth of the business, and new production, research and development, and information technology equipment for its various facilities. The company has steadily grown over the past 44 years and currently employs 656 individuals in northeast Indiana. Over the next two years this investment will necessitate the hiring of an additional 72 people for positions in production, administration, and research and development.
“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.”
This latest project for Fort Wayne Metals makes them eligible for incentive programs from the Indiana Economic Development Corporation and the City of Fort Wayne. The City Council will be asked to consider a 10-year phase-in of new property taxes for both real estate improvements and equipment additions. The tax phase-in is estimated to save the company $2.9 million over the 10-year period.
“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 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.