The Fort Wayne area economy is steadily but gradually rebounding from the recession of the early portion of this decade. From an employment perspective, it appears that northeast Indiana hit the low point of the downturn in the last three quarters of 2003 and the first quarter of 2004. The past year has witnessed a substantial upturn in the number of new project announcements for both facility/equipment investment and job creation. While Fort Wayne has a significant distance to travel to get back to the employment highs reached in 1999 and 2000, it is at least now moving in the right direction.