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BAE Systems to Expand its Operations in Fort Wayne, Indiana

FORT WAYNE, Ind. (April 25, 2006) — The IEDC offered incentives of up to $50,000 in training grants and up to $800,000 in tax credits based on anticipated employment and capital investment levels.

  [ 4/25/2006 ]  By: NEWS BRIEF   Related Link...  Print This Article  Reprint/License This Article  

BAE Systems will add 36 jobs in Fort Wayne with the support of the Indiana Economic Development Corp. and the city of Fort Wayne. BAE Systems plans to locate staff functions that support worldwide company operations in Fort Wayne. Most of the company’s local operations are focused on production and testing of aircraft engine and airframe control components.

The company will invest $2 million in building renovations at its 2000 Taylor Street site, including a facelift of the front of the building. Over the next five years, the company will invest an additional $15 million in tooling, machinery, equipment, fixtures, and furniture. This investment will help establish Fort Wayne as the home for managers, analysts, engineers, and contract specialists who will support production and strategic sourcing activity across multiple company locations in the United States and abroad.

“Residents of Northeast Indiana will see a much improved exterior look and feel at our Taylor Street campus,” said David Herr, BAE Systems vice president of operations. “Our employees and customers will welcome the change outside and the improved capacity within our complex as well.”

The 36 anticipated new jobs are in addition to about 50 positions added to the company’s local work force over the past year. BAE Systems currently employs about 740 people in Fort Wayne.

The IEDC, the city of Fort Wayne and the Fort Wayne-Allen County Economic Development Alliance worked together to provide an incentive package that will assist BAE Systems with its expansion. The IEDC offered incentives of up to $50,000 in training grants and up to $800,000 in tax credits based on anticipated employment and capital investment levels.

In addition, the city of Fort Wayne will consider tax abatement for the applicable investments. The value of the abatement could reach $1.4 million over ten years. The city will also provide a grant over four years totaling $92,000 to assist with a small portion of the overall reinvestment project.

 



 
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