WEDA Best Practices: Kerry Inc. Business Expansion
Tuesday, May 27, 2014
Location: Jackson, WI
Project Type: Existing business expansion
Description: $14.5 million expansion of the existing production facility, adding 119,000 square feet and growing employment by approximately 60 new full-time jobs above the 125 persons currently employed there.
Washington County Economic Development (WCED) provided ample incentives to ensure the Jackson plant was a competitive choice for Kerry relative to other options they were considering, while avoiding significant financial risk for the Village. Careful use of the county’s Attraction Fund dollars on the project’s front end ensured funds will be available for future growth opportunities.
EDWC partnered with the Village of Jackson, Washington County, WEDC, We Energies, Ehlers and other taxing bodies to make the project a success and to offer the following for the Kerry expansion project:
- Tax Increment Financing (TIF) “pay-as-you-go” developer incentive from a portion of new tax revenue coming off the expansion (project specific)
- Unique County Attraction Fund loan paid back through TIF revenue
- Refundable state tax credits from Wisconsin Economic Development Corporation
“We are very proud of our Jackson facility, which is our first manufacturing plant in the US, and are most appreciative of the unique partnership offered by the Village, the County and the State. This represents an exciting growth opportunity for our company and this wonderful community where we live and work.”
– Jason Ampe, Operations Director, Kerry Inc.
Click here for complete project details including project timeline and deal framework.