State approves $50 million tax credit for Fort Wayne’s GE project

Based on an expected initial investment of more than $213 million for phase one of the project, which is expected to begin next year, the IEDC board approved an Industrial Recovery Tax Credit (DINO) of up to the lesser of $50 million or 25 percent of the total qualified investment.

Source: Fort Wayne News-Sentinel

Developer closes the deal on historic GE campus

With the official acquisition of the campus complete, we can now focus on working with the community in a public/private partnership to make Electric Works a mixed-use development built on innovation, energy and culture.

Source: WANE-TV

Downtown revitalization projects bring tourism and new business to northeast Indiana

“The biggest individual project in Fort Wayne, however, is just getting started with the redevelopment of the historic General Electric’s Broadway campus.”

We welcomed acclaimed travel writer Ron Bernthal for a campus tour and overview of the project.

Source: TravelWritersMagazine.com

 

‘Been a creative dream’

About four dozen local business leaders got a rare look into the neglected brick buildings that sit on both sides of Broadway near Taylor Street.

Source: The Journal Gazette 

New renderings, new name point to future of Fort Wayne GE campus

The Electric Works name is a nod to the 100-plus year history of the GE manufacturing site, which originated as the “Fort Wayne Electric Works” and was later known as the “Jenney Electric Light Company.”

Source: WPTA / 21Alive

“The Project will generate lasting effects on the entire region.”

This past summer, RTM Ventures commissioned a national CPA and consulting firm to research and produce a detailed study of the expected economic impact study for Phase 1 of the project. Their analysis provides a data-driven narrative for just how transformative Electric Works.

Some highlights from the analysis include:

  • Electric Works will increase tax revenues
    • Federal, state, and local tax impact of $943 million over 20 years
    • State tax impact of $220 million over 20 years
  • Electric Works will create jobs
    • 1,981 jobs during construction
    • 2,830 jobs during operation
    • 1,565 direct jobs on-site during operation
  • Electric Works will grow the economy of northeast Indiana
    • $283 million in economic impact during construction
    • $387 million in annual economic impact during operation

You can read the entire analysis here: AN ECONOMIC IMPACT ANALYSIS OF: ELECTRIC WORKS – WEST CAMPUS

GE campus finds its buyer

“Fort Wayne is on the move. And we’re so excited to be on the move with you.”

Source: The Journal Gazette