Labeca LLC plans expansion
Published: December 3, 2014 3:00 a.m.
Steel plant eyes expansion
Tax break sought; limited jobs initially, more anticipated
Paul Wyche | The Journal Gazette
A steel manufacturer plans a $4.6 million investment and is seeking a multiyear tax abatement.
Labeca LLC wants to build a 10,000-square-foot addition at its 3618 Ferguson Road location. The company, a subsidiary of Fort Wayne Metals Research Products Corp., is seeking a 10-year tax abatement, according to paperwork filed recently with the city.
The company initially would add only five production jobs. But the average salary of those positions is $42,500, better than Fort Waynes personal-income average of $37,537, based on U.S. Bureau of Economic Analysis estimates.
Metropolitan Fort Wayne, which comprises Allen, Wells and Whitley counties, ranked 235th out of 381 metro areas in the nation in 2013 for income average.
Fort Wayne Metals CEO Scott Glaze said his company's pay usually outpaces the area's average.
“We're usually higher,” he said, “that doesn't come as a surprise.”
Glaze said the expansion will result in more jobs in coming years.