First Gear Inc., located at 7606 Freedom Way, has announced a $1.5 million dollar investment in new equipment. The company will also add up to eight positions to its current team of 16.
“Adding a new shaping machine will enable us to better meet the demand of our clients,” says Greg Leffler, president of First Gear Inc. “The new machine and added workforce will put us in a better position to meet the ever increasing demand for product excellence.”
First Gear began its operations by producing precision gears for Indy-Car engine manufacturers. The company has since expanded to include aerospace, medical and food industries in addition to commercial/industrial applications. Its recent expansion has created a demand for First Gear’s products and has made it necessary to purchase a new shaping machine for cutting gears. First Gear is eligible for a 10-year personal property tax abatement, which would save the company $98,155. First Gear plans to complete the project this year.
“It’s good to see innovative and industry leading companies like First Gear expanding and adding jobs,” says Mayor Tom Henry. “For our part, the City of Fort Wayne will continue to do all we can to make the community more desirable for company expansion and a place where businesses continue to prosper.”