Printer-friendly version (pdf)West Cook Road Technology Park will be HQ for GE Commercial Motors by Regal-Beloit
FORT WAYNE, Ind., July 12, 2005-
Beloit, Wisconsin-based REGAL-BELOIT Corporation (NYSE: RBC) has announced plans to establish the headquarters for GE Commercial Motors by Regal-Beloit in 85,000 sf of space in the West Cook Road Technology Park. The Park is a major redevelopment project of Northline Investment LLC, based in St. Louis. The project is taking place at the site of the former Central Soya headquarters in northwest Fort Wayne.
This move establishes REGAL-BELOIT Corporation as a substantial, long-term employer in Fort Wayne. REGALBELOIT purchased two local business units from GE in 2004. Those units included GE’s Commercial AC (CAC) Motor business and GE’s Heating, Ventilation, Air Conditioning and Refrigeration Motor and Capacitor (HVAC) operations. Those two units are now branded GE Commercial Motors by Regal-Beloit. One hundred eight (108) employees from the two business units have been temporarily housed within existing GE space near downtown Fort Wayne since the acquisition.
REGAL-BELOIT Electric Motors President Mark Gliebe stated, “GE has been very accommodating in allowing us to remain on the GE campus, but the time has come for us to establish our own REGAL-BELOIT identity and our own presence in the Fort Wayne community. We would like to thank the City of Fort Wayne and the Alliance, as well as the State of Indiana, for assisting us in finding this ideal location and facilitating the move. The facility is very nice and I am confident our employees will welcome the change.”
“The City of Fort Wayne is appreciative of the decision by Regal-Beloit to stay and grow here in Northeast Indiana,” stated Mayor Graham Richard. “We are pleased that GE Commercial Motors by Regal-Beloit will be an integral part of our business community.”
Fort Wayne will be the home to REGAL-BELOIT’S exclusive ECM Technologies. These patented technologies employ integrated circuits on electric motors to scientifically control air-flow and reduce energy consumption on motors used in commercial and residential HVAC systems.
Efforts to retain and grow the REGAL-BELOIT jobs, which include engineering, sales, customer service and other office support functions, have involved representatives of the City of Fort Wayne, the Indiana Economic Development Corporation and the Fort Wayne-Allen County Economic Development Alliance. In addition, Northline Investment LLC and its principals, Kevin Farrell and Gerard Mudd, have been assisted by CB Richard Ellis real estate professionals in St. Louis and Fort Wayne. The City of Fort Wayne is providing REGAL-BELOIT Corporation a $100,000 grant to help offset costs associated with the establishment of the brand headquarters here. The Indiana Economic Development Corporation is currently finalizing its package of assistance for the company.
REGAL-BELOIT Corporation is a $1.4 Billion publicly traded company and one of the largest electric motor manufacturers in the world with operations in the US, Canada, Mexico, India and China. More information can be found at www.regal-beloit.com