FORT WAYNE, Ind. (WANE) — A global metals recycler plans to buy land in a far southeast Fort Wayne park and create a $300 million facility.

Fort Wayne’s Redevelopment Commission on Monday approved a $768,000 purchase agreement for the sale the 76-acre Adams Township Industrial Park property at Adams Center Road and Paulding Road.

Exurban intends to invest $300 million to build a metal recycling facility on the parcel. The city said the metal recycling company plans to create some 200 jobs with salaries of $50,000-$70,000.

“They aren’t just jobs. In many cases, they’re actual careers,” Fort Wayne Mayor Tom Henry (D) said.

The company is able to break down things like computer boards and medical equipment to break down the various metals inside them. Something Mayor Henry said is usually done overseas.

He and 6th District Councilwoman Sharon Tucker (D) both said Exurban’s investment is a big boost for southeast Fort Wayne.

“I’m excited,” Tucker said. “It says a lot of things. It says that the work that we’ve been doing to bring up awareness for southeast is finally catching. Not just locally, but abroad.”

“There’s a lot of developers now, whether it’s residential or hospitality offerings, or, in this particular case, a larger type of business — they’re beginning to realize how valuable southeast Fort Wayne really is. It’s been dormant for a number of years, but now it’s beginning to come around,” Mayor Henry added.

Exurban will begin the site engineering and permitting process, which is expected to take about a year, the city said. Construction of the facility should take 18-24 months.

A 100 acre lot next to Adams Township Industrial Park is also available. Both Mayor Henry and Councilwoman Tucker believe that land provides a great opportunity for either Exurban to expand or another company to invest.