Medical Protective Co expanding
Expansion at Medical Protective could create 70 new jobsBy Kevin Leininger of The News-Sentinel
According to applications for tax "phase ins" to be considered by City Council Tuesday, the Medical Protective Co. plans to create 70 jobs paying an average salary of $57,643 through construction of an 11,000-square-foot, $3.2 million addition to its facility at 5814 Reed Road and the installation of new manufacturing and computer equipment for a total project cost of $5.11 million.
Medical Protective was founded in 1899 and provides insurance to physicians, dentists, hospitals and other health-care providers. The company reported sales of about $574 million in 2014. In the application, the company says expansion is needed to accommodate its growing business and that expansion is also "being considered in Fort Wayne as well as outside Indiana . . . Though (the company) ha enjoyed its Fort Wayne home office location for nearly a century, the companys other office locations sometimes make it easier to attract talent. Nonetheless, (we) hope to remain in Fort Wayne for another century attracting as much talent as possible to the area."
If approved by council, the "phase in" would save the company more than $600,000 in taxes over 10 years.