Impact – Fort Wayne Electric Works

Innovation

The former General Electric campus has an extensive and rich history of innovation. Over the course of its 130 years as Gause Agriculture Works, Jenney Electric, the Fort Wayne Electric Works, and the General Electric Company, it has housed thousands of creative thinkers who have made their mark by transforming wild ideas into innovative realities. We aim to turn the page to the next chapter of this campus’s rich history by creating a mixed-use district of innovation, energy, and culture, infused with the inventive history of Fort Wayne.

Job Creation

Cultivating entrepreneurship and job creation is critical to Fort Wayne’s future. Our rapidly growing region and its economy are dependent on our continued efforts to groom the next generation of our community’s leaders. With 39 acres of mixed-use space, distinctive 19th Century architecture and a historic downtown setting adjacent to many residential neighborhoods, Electric Works presents a compelling backdrop for technology-driven companies, educational institutions and entrepreneurs. Its aim is to create an environment in which “creative collision” happens organically.

Economic Development

It is our vision that as Electric Works grows, so too will our region. We are an integral part of Vision 2030, a regional initiative stewarded by the Northeast Indiana Regional Partnership, which is focused on reaching a common vision by the year 2030: “to become a top global competitor, exceeding the expectations of businesses and resident.” The campus is also one of the five major projects Greater Fort Wayne (GFW) Inc. cited in their 10-year plan to increase the middle wage income, attract and retain top talent and grow the economy.

Electric Works and Fort Wayne

Electric Works creates a powerful draw for technology-driven companies, educational institutions and entrepreneurs, diversifying the Fort Wayne economy, while supporting its traditional durable manufacturing base.

The metro area’s solid employment, income and household formation trends support new housing and retail, among the planned uses at the Electric Works.

The redevelopment of the General Electric site re-invigorates proximate neighborhoods and reinforces the growing resurgence of the downtown

Increase tax revenues

20 Year Tax Impact	Direct	Indirect	Induced	TOTAL
Federal	372,419,500	98,107,439	151,884,208	622,411,147
State	99,976,273	36,159,108	83,642,439	219,777,820
TOTAL	518,300,159	150,869,103	273,931,307	943,100,569

Create jobs

Employment Impact by Phase	Direct Jobs	Other Jobs	TOTAL JOBS
Construction (2 yrs)	1,057	924	1,981
Operation (Stabilized)	1,565	1,265	2,830

Grow the economy

Employment Impact by Phase	Direct	Other	TOTAL
Construction (2 yrs)	167,035,893	116,640,636	283,676,529
Operation (Stabilized)	233,345,999	153,826,544	387,172,543

Source: Novogradac & Company LLP performed an Economic Impact Analysis of the Electric Works-West Campus redevelopment, using the “IMPLAN” software and data produced by IMPLAN Group, LLC.

Notes: Direct impacts are the total financial equivalents of the number of employees in a given industry. Indirect effects are impacts caused by the iteration of industries purchasing from other industries. Induced effects are the impacts on all local industries caused by the expenditures of new household income generated by the direct and indirect effects.

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