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COLUMBIA CITY â€” A company with its roots in northeast Indiana is planning to grow into Whitley County.
Advanced Materials Development, LLC, a manufacturer of premium metal alloys, announced today that it will locate a new operation in Columbia City, creating up to 68 new jobs by 2014.
Advanced Materials Development, LLC plans to invest $12.9 million to renovate the 115,000 square-foot former Fort Wayne Foundry building, and purchase production equipment that will enhance capabilities and increase capacity in support of current operations.
The facility will process stainless steel, nickel, cobalt and titanium alloys that are used in the companyâ€™s products.
Advanced Material Development, LLC is a wholly-owned subsidiary of Fort Wayne Metals Research Products Corporation,
â€śFort Wayne Metals planted its roots in Northeast Indiana more than 60 years ago and continues to create new opportunities for hundreds of Hoosiers in its home region,â€ť said Gov. Mitch Daniels.
Established in Fort Wayne in 1946 by founder Ardelle Glaze, Fort Wayne Metals Inc. pioneered many new applications for stainless steel wire.
In 1970, Fort Wayne Metals Research Products Corporation began operations and has evolved into one of the nationâ€™s top suppliers of high-quality precision wire, strands and cables, and component assemblies.
The companyâ€™s products are used in various medical device markets including vascular therapy, cardiac rhythm management, endoscopy, orthopedics, dental, neuromodulation and neurostimulation, as well as in other industries where demanding applications are a necessity.
â€śFort Wayne Metals continues to see growing demand for our products, both domestically and internationally. Our investment is intended to meet the anticipated needs of our customer base. We believe Indiana, more specifically Whitley County, provides us an excellent opportunity to meet those needs,â€ť said Troy Linder, chief financial officer.
Fort Wayne Metals currently employs 570 team members throughout its seven Allen County locations. The newly established subsidiary plans to begin hiring production workers in Columbia City in August.
The Indiana Economic Development Corporation offered Fort Wayne Metals Research Products Corporation up to $700,000 in performance-based tax credits and up to $50,000 in training grants based on the companyâ€™s job creation plans. Whitley County provided additional property tax abatement at the request of the Whitley County Economic Development Corporation.
â€śOur entire community extends a warm welcome to Advanced Materials Development,â€ť said County Commissioner Tom Rethlake, â€śWe look forward to promoting a business climate that will encourage the companyâ€™s success in the years ahead.â€ť