Auto supplier plans 120 new jobs in Fort Wayne thanks to a $23 million expansion
A German automotive supplier plans to create 120 jobs in Fort Wayne thanks to an expansion costing about $23 million.
According to applications for tax incentives to be considered Tuesday by City Council, WC Holdings will spend about $2.5 million to complete a 60,000 “spec” building constructed at 2677 Persistence Drive in 2016 and will then lease it to ElringKlinger, which will invest about $20.6 in manufacturing, logistical and informational technology equipment and create the jobs with an average salary of $43,164.
According to its web site, ElringKlinger’s “lightweighting concepts help to reduce the overall weight of vehicles. As a result, vehicles powered by combustion engines consume less fuel and emit less CO2 . . . These efforts are supported by a dedicated workforce of more than 9,000 people at 49 ElringKlinger Group locations around the globe.” The company posted sales of about $1.75 billion in 2017.
Abatements temporarily reduces the taxes payable on new equipment or real estate improvements. If approved by council, WC Holdings would save $421,984 in real estate taxes over 10 years, while ElringKlinger would save $1.48 million in equipment taxes over the same period.