Wire maker’s $7 million relocation to create 25 jobs
By Kevin Leininger | News-Sentinel
A Fort Wayne magnet wire manufacturer is planning a new $7 million plant expected to create 25 jobs within five years.
Alconex, which currently operates an 80,000-square-foot facility at 4204 W. Ferguson Road, plans to build a 100,000-square-foot plant at Cook and Chalfant roads that could be expanded by another 50,000 square feet if necessary, President and CEO C. David McBane told the city's Redevelopment Commission Monday.
"We're in our 30th year in Fort Wayne, which has a rich history in the industry," McBane said. "Seventy percent of our products go to Mexico, and (fellow wire makers) Rea and Essex have yielded to that tug. Magnet wire in Fort Wayne is 5 percent of what it used to be."
Alconex plans to stay, but McBane said it is not feasible to enlarge the existing facility. The company currently employs about 60 production and 11 office workers, and the new jobs are expected to pay about $15 an hour. The Commission Monday approved $175,000 for infrastructure improvements near the new facility, and the company is expected to seek additional incentives, including a tax abatement.
Construction is expected to begin this year, and the move will be completed in stages over several months in order to maintain production.
McBane said the company's current location is not expected to remain vacant long. "A neighbor wants the Ferguson building," he said.