He formed The Esterline Company in Lafayette, Indiana on the banks of the Wabash River and began producing tungsten and chromium alloy permanent magnets in 1901. After meeting Carl G. Fisher and Thomas Allison in 1913, Esterline found himself at the forefront of the growing automobile industry in Indianapolis, alongside the formation of the Indianapolis 500. The timing of the meeting was perfect, since Prof. Esterline was looking for investors for the Esterline Company.  The investment by Fisher and Allison brought financial stability to the fledgling magnet company, and allowed the company to make plans for expansion.  They saw a bright future for the company and wanted it to survive.

As the company was expanding the Lafayette plant and adding equipment, the 1913 Wabash River flood changed things dramatically.  The flood proved to be a pivotal moment for The Esterline Company, prompting a strategic relocation to Speedway, Indiana, that would prove to be a turning point in its history.

Moving the company’s manufacturing to Speedway offered numerous advantages, including access to a larger labor pool and ample land for expansion.  The central part of Indiana, with its growing industrial base and strategic location, provided an ideal environment for the company. The relocation enabled The Esterline Company to tap into new markets, leverage better transportation links, and attract skilled workers, all critical for its continued expansion.