Payment technology company growing in Fort Wayne
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CPI Card Group Inc., a payments technology company headquartered in Littleton, Colorado, is planning to double its footprint in northeast Indiana.
The company said Tuesday it is investing tens of millions of dollars to build and equip a new manufacturing facility in Fort Wayne, though a specific dollar figure was not provided.
CPI Card Group provides a variety of payment solutions, such as credit, debit and prepaid cards, as well as digital functions for financial institutions, fintech companies, prepaid programs, and other industries.
The company currently operates out of a facility at 613 High Street, and said it has outgrown the space. CEO John Lowe said in a news release that the new, 80,000-square-foot facility will serve as the company’s “Factory of the Future.”
“This is the first time in CPI’s nearly 30-year history that we’ve had the opportunity to build a manufacturing facility to our specifications,” Lowe said. “It’s a chance to provide our employees with the latest and most advanced tools, and will solidify CPI as a top workplace now and in the future.”
Construction on the new facility, located at 6993 Lima Road will begin this month, with completion expected in mid-2025. CPI said employees are expected to complete their transition to the new facility by early 2026.
CPI currently employs about 160 people in Fort Wayne. While no new jobs are being committed with the new facility, a spokesperson told Inside INdiana Business the company is excited about the opportunity for long-term growth in the city.
The company also noted that it is exploring renewable energy alternatives and LEED certification for the new plant.
In addition to its Colorado headquarters and Fort Wayne presence, CPI Card Group has locations in Minnesota and Tennessee.