A European company planning to invest $340 million in a Fort Wayne facility has earned up to $2. 5 million in tax credits from the Indiana Economic Development Corporation, the IEDC announced today.
UK-based Exurban recycles steel from electronics and adds computers, TVs and cell phones. The company plans a no-waste foundry, the company’s first site in the U. S. On 77 acres in the Adams Township Industrial Park, near Adams Center and Paulding Roads.
The company said the facility will be the first in the world.
Exurban’s plans were announced in April when the land was purchased from the Fort Wayne Redevelopment Commission.
The company, which plans to rent up to 200 more people through the end of 2026, also won a $200,000 education grant from the IEDC.
Indiana Governor Eric J. Holcomb and Commerce Secretary Brad Chambers met with representatives of the company in the UK during a recent holiday in Europe.
Holcomb, in a press release, said the company would create “significant economic impacts” in the region.
Holcomb said he and Chambers were inspired by “Exurban’s global expertise in metals and knew that a close partnership would allow us to shape a sustainable world together. “
Exurban can extract valuable gold, silver and copper from waste so metals can be reused in the new electronicArray
Construction of the new foundry is expected to begin in 2023.
Millions of tons of e-waste are now sent to landfills or shipped every year. Exurban hopes to buck this trend by considering metals and plastics as uncooked fabrics rather than waste, corporate officials said in the press release.
IEDC tax credits are performance-based, meaning no cash will be released until the company hires and trains local workers. Exurban is one of more than 90 UK-based companies employing approximately another 36,800 people in Indiana.
rsalter@jg. net
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