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Construction of Electric Works can begin after financial deal is completed

FORT WAYNE, Ind. (FORT WAYNE'S NBC) -- A day that many were not certain they'd see has arrived for the Electric Works project in The Fort.

Tuesday, developers announced the complete closing on the $286 million financing for the project.

Over the next 24 months, more than $200 million will be sunk into resurrecting the former General Electric campus on the city's near southwest side.

Weigand construction is already kicking things into high gear, planning to create about 2,000 construction jobs.

Developers say during construction, alone, an estimated $300 million will be pumped into the local economy, and once complete in 2022, they anticipate a $400 million yearly economic impact.

Linda Jackson

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