Fort Wayne Metals to lease space in electric works
Fort Wayne Metals has signed a letter of intent to lease space at Electric Works, with initial plans calling for materials research and development space on the former General Electric West Campus.
“As we continue to be innovative leaders of life-saving, high-quality material solutions, we are experiencing a global increase in demand,” Scott Glaze, president and CEO of Fort Wayne Metals, said in a statement. “Our investment in facilities, research and talent will help build the infrastructure necessary to meet this demand, and we are excited to be able to establish a presence at Electric Works and take advantage of the unique resources and opportunities it offers our team.”
This is the second significant announcement Fort Wayne Metals has made regarding its regional presence in the past year. In October 2017, the company announced plans to invest $51.1 million and add more than 300 jobs to its northeast Indiana operations by 2021.
“From the beginning, we’ve worked closely with Greater Fort Wayne, the Northeast Indiana Regional Partnership and other organizations to ensure Electric Works plays a key role in supporting and strengthening the industry sectors so important to our regional economy,” stated Jeff Kingsbury of RTM Ventures, the development team behind Electric Works. “Thanks to companies like Fort Wayne Metals, northern Indiana has a well-earned reputation as a global hub for medical device companies and innovation in advanced material science. With unique and unparalleled access to high-quality resources and expertise, Electric Works helps ensure Fort Wayne Metals and other key regional economic drivers can expand their world-class products and services right here in northeast Indiana.”
Founded in 1971 and with roots dating back to 1946, Fort Wayne Metals Research Products Corp is a leading manufacturer of wire-based products that are making lives better around the world. The company’s materials are used in life-saving medical devices and other critical applications such as aerospace, power generation, and more. In addition to its facilities in North America, the company also has a presence around the globe throughout Asia, Central America and Europe.
Terms of the deal were not disclosed. Earlier this week the Community Foundation of Greater Fort Wayne announced plans to invest $500,000 in Electric Works, which includes 39 acres, 18 historic buildings and more than 1.2 million square feet of space for office, educational, innovation, retail, residential, hotel and entertainment uses. For more information, visit the Electric Works website.