Shambaugh & Son isn’t recession-proof, but even its top executive admits business has been good.
We’ve doubled in size in the last few years during the time of the Great Recession, CEO Mark Shambaugh said. That’s not too bad. We’re seeing growth in the food processing and industrial sectors. And although there’s not another Parkview on the horizon, health care has been good, too.
The Fort Wayne company is investing $4.3 million on an expansion project that will add 110 jobs over the next 1 1/2 years. Fabrication, pipefitting and project management positions are available, as well as openings for electricians and engineers.
The annual pay range is $60,000 to $80,000.
The two-part project will include an 8,000-square foot addition at its Fort Wayne headquarters, 7614 Opportunity Drive, bringing the location to 140,000 square feet. The second portion of the plan includes leasing a new 70,000 square-foot facility at 2219 Contractors Drive, where the company will relocate its fabrication shop.
Officials made the announcement Wednesday.
Shambaugh specializes in new and retrofit construction for industrial, commercial, institutional, food processing, medical and biofuel projects.
The company’s annual revenue is more than $550 million. Last year, Shambaugh invested $2.1 million at its local operations to expand fabrication shops, construct a new storage building to house inventory and make other improvements.
The company employs 1,800 nationwide, including 528 in Allen County.
Founded in 1926, Shambaugh is considered a leading facilities services and construction contractor in the Midwest. The firm is a subsidiary of Norwalk, Conn.-based EMCOR Group Inc.
It’s great to see them continuing to grow in Fort Wayne, said Scott Naltner, executive vice president of the Fort Wayne-Allen County Economic Development Alliance.
The Indiana Economic Development Corp. and the city of Fort Wayne offered incentives for the investment. The IEDC offered the company up to $1 million in conditional tax credits and up to $100,000 in training grants, based on the business’ job creation plans.
These tax credits are performance-based, so the company isn’t eligible to claim the incentives until Hoosiers are hired.
The Fort Wayne City Council will consider phasing in taxes associated with the project that would save Shambaugh about $283,000 over a 10-year period. WorkOne Northeast also kicked in abut $33,000 in workforce development training grants for new hires.