Once a major manufacturing plant in the state, Fort Wayne’s General Electric campus revitalization project took a major step forward Thursday when developers announced a new anchor tenant after months of delays.
The hardware supply company Do it Best is the largest privately-held company in the state and will relocate its headquarters to the new Electric Works development in Fort Wayne.
The multi-million dollar project has been in the works for several years and includes funding from public-private partnerships. It will overhaul the vacant 39-acre General Electric campus that once employed thousands of Hoosiers.
Gov. Eric Holcomb says the success of the public-private partnership will be an example for others of the potential in vacant manufacturing facilities.
“You’re looking at a renaissance and this canvas is going to be painted to perfection in just years ahead,” says Holcomb.
Do it Best President and CEO Dan Starr says he’s excited to be a part of what he believes to be one of the state’s boldest restoration projects.
“To be a part of that as an organization that serves the independent home improvement community with a restoration project is just a perfect alignment of who we are and what we’re all about an organization,” says Starr.
With the new location, Starr says he expects to add about 20 percent more jobs.
The Indiana Economic Development Corporation is offering more than $1 million in conditional tax credits to Do it Best with the new location.