A manufacturer located on Fort Wayne’s east side could grow by more than 100 employees through expansion of its production capacity.
Deister Machine Company Inc. plans to invest in two new computer-numeric-control lathes and a 750 ton, 24-foot long press brake, according to a statement by Greater Fort Wayne Inc. The investment is expected to create 110 new jobs by 2018.
The more than 100-year-old company headquartered on East Wayne Street produces equipment for the aggregate and mining industry with a work force of 181 employees. Deister products are used worldwide.
“We are very pleased to keep growing here,” company president E. Mark Deister said in the statement. “Thanks partly to the incentive package that we will receive from three signficiant city entities, we will not only be able to remain steady but increase our strong presence in this thriving community.”
The incentive package through the Indiana Economic Development Corporation, Northeast Indiana Works and the City of Fort Wayne totals more than $1.3 million, according to Greater Fort Wayne’s statement. The expansion also qualifies for a 10-year investment deduction of property taxes since the plant is located in the city’s Urban Enterprise Zone.
“Investments like the one the 102-year-old Deister Machine Company Inc. is making are critical to the continued economic and physical revitalization of the UEZ and serve as a catalyst for future business development in the Enterprise Zone,” Gina Kostoff, Urban Enterprise Association executive director, said in the statement.