Fort Wayne, Ind. (October 03, 2008) — Nu-Tec Coatings, a custom coating company located in Fort Wayne, has announced plans to expand its current operations in the city’s Urban Enterprise Zone. With intentions to invest over $1.7 million in the next three years, Nu-Tec Coatings will add 35 more full-time jobs to the 127 full-time jobs in its current workforce.
The company specializes in providing dip, liquid and powder coating to various industries in the Midwest. Among its many customers, Nu-Tec Coatings receives business from the automotive and RV industry, the military, extruders and metal formers.
The expansion is needed to meet the high demand from the company’s growing client base. The company will add an Enterprise Resource Program (ERP) system, four new paint booths, drying and curing ovens and an automated paint mixing and delivery system. Nu-Tec Coatings’ CEO, Bruce Fogler, believes it is the right time for the expansion to take place. “The next three years should be a very exciting time here at Nu-Tec Coatings,” stated Fogler, “We feel like the timing is right, and we owe it to our customers to grow and give them the services they deserve.”
Due to Nu-Tec Coatings’ Urban Enterprise Zone location, they will be eligible for a tax savings of $164,698 from the City of Fort Wayne over a 10 year period. The City will also provide the company a $50,000 no interest loan. Nu-Tec Coatings is eligible to receive $8,000 from WorkOne Northeast in customized employee recruiting, $24,000 in WorkKeys™ and Prove It™ assessments and assistance in attaining a Training Acceleration Grant (TAG) with a potential value of up to $200,000 for eligible incumbent worker training. The Indiana Economic Development Corporation (IEDC) has offered $35,500 from the Skills Enhancement Fund (SEF) and $50,000 as part of the Hoosier Business Investment Tax Credit (HBITC) program. Those interested in employment opportunities with Nu-Tec Coatings should contact WorkOne Northeast at 260.745.3555 Ext. 228.
“Helping Hoosier companies like Nu-Tec Coatings grow creates new jobs and strengthens the state’s economy,” said Governor Mitch Daniels.
News of the Nu-Tec Coating expansion was also met with enthusiasm from Fort Wayne Mayor Tom Henry. “The continuing growth of Nu-Tec Coatings is an encouraging sign for the city’s Urban Enterprise Zone,” said Mayor Henry. “By steadily increasing the number of new employees in the next three years, Nu-Tec Coatings will be giving opportunity in an area where it is needed most.”
Nu-Tec Coatings is located on the 1600 block of Fletcher Avenue, which is in the heart of the Urban Enterprise Zone. The Fort Wayne Urban Enterprise Zone is a 3.99 square mile area targeted for physical revitalization, job creation and improvements in social and economic conditions. The area is administered by the Urban Enterprise Association Board of Directors. “As President of the UEA Board, I’m most pleased to see economic development in our service area,” stated Jerome Henry, Jr. “The UEA office is located across the street from Nu-Tec Coatings and we’ve been very pleased at the economic development activity at the formerly vacant industrial site.”
“We’re excited to see this reinvestment and additional employment at Nu-Tec Coatings,” said Krisitne Foate, President and CEO of the Greater Fort Wayne Chamber of Commerce. “As a community, we need projects like this to help sustain and grow our local economic base.”
About Nu-Tec Coatings
With a management team with over 100 years in the coating industry, the Nu-Tec Coatings experience extends to coating liquid and powder on class “A” and underbody parts for automotive, agriculture, and many other types of industries. Nu-Tec Coatings can apply coatings to plastic, wood, and ferrous and non-ferrous metals as well. For more information on Nu-Tec Coatings, visit www.nuteccoatings.com.