Tuthill Corp. will spend $3.7 million on new equipment at its Fort Wayne location and hire 65 workers over the next four years.
The company makes fuel pumps and meters for the agricultural and construction industries. It has 12 plants worldwide, including one at 8825 Aviation Drive.
Jeanice Croy, president of Tuthill Transfer Systems, said the new equipment will allow the company to do business with clients in the chemical industry. Tuthill Transfer, the local operation, is a division of Tuthill Corp. of Burr Ridge, Ill.
Tuthill employs 248 and will be hiring machinists, assembly workers, engineers and managers. Salaries will range from $35,200 to $70,000.
The company is seeking a 10-year tax abatement that will save the company $249,097. The tax break application will be introduced to the City Council on Tuesday.
Croy said the company already has hired a dozen or so of the 65 workers and hopes to expand its operations in Fort Wayne despite the overall mixed economy. Some economists are concerned the turnaround could be stalled by reduced spending and wages. U.S. consumers spent no more in May than April, while salaries remained flat, according to the Commerce Department.
While those statistics may seem to have no direct tie to Croy’s business, economists have long said consumer spending drives about 70 percent of economic activity. So there is a trickle-down effect to consider.
Still, Croy expressed confidence in the national economy and her own company’s fortunes. Tuthill had $100 million in sales last year, up 20 percent from 2010.
“We’ve seen a definite improvement,” she said. “I’d say 2010 was the worst year for us. Since then, we’ve continued to see growth.”
That makes the folks over at the Fort Wayne-Allen County Economic Development Alliance happy.
“They are obviously doing very well here,” said Ashley Steenman, vice president of business development for the organization. “They had an opportunity to grow, and they’re a global company but didn’t choose to place additional operations at another location.”
In recent years, the company has streamlined its holdings. In 2006, the business had 26 sites worldwide.