WEDA Wire – Nov. 29, 2018

WEDC Bulletin

An Economic Development Update from the Wisconsin Economic Development Corporation

WEDC awards grant to support startup businesses in southeastern Wisconsin
WEDC awarded the Wisconsin Women’s Business Initiative Corporation (WWBIC) an $80,000 grant to support its Growth Accelerator program, which will help 10 entrepreneurial teams start or grow their businesses.

The grant will enable WWBIC to conduct two intensive, 10-week Growth Accelerator classes with five teams in each – one this fall and one in spring 2019.

The WWBIC Growth Accelerator program will focus on startups in Racine, Kenosha and Walworth counties by providing education and training, mentoring, technical assistance and counseling, and financial assistance to entrepreneurs in rural and metropolitan areas.


Zendesk establishes Midwest regional hub in Madison
Zendesk, Inc., a customer engagement platform, is expanding its operations in Madison and establishing a Midwest regional hub—a project expected to create 136 jobs over the next three years.

The company’s $12.7 million expansion will focus on growing and enhancing the customer service functions of the company, as well as its capabilities in finance, IT and professional services.

WEDC is supporting the expansion by authorizing up to $800,000 in state income tax credits based on job creation over the next three years. The actual amount of tax credits Zendesk will receive is contingent upon the number of jobs created and the amount of capital investment during that period.


Federal Foam Technologies to expand operations in St. Croix County
Federal Foam Technologies Inc., a leading global supplier in the foam and plastics industry, is expanding its operations at its New Richmond facility – a $7.3 million project expected to create 52 new jobs over the next three years.

WEDC is supporting the expansion by authorizing up to $195,000 in state income tax credits over the next three years. The actual amount of tax credits Federal Foam Technologies will receive is contingent upon the number of jobs created and the amount of capital investment during that period.

To accommodate growing demand, Federal Foam Technologies is expanding at its facility by constructing a new 100,000-square-foot warehouse. The building will house the company’s shipping, receiving and warehousing and will provide additional space for new production equipment. Construction began in June and will be completed by March.


Pet food company Stella & Chewy’s expands operations in Milwaukee County
Stella & Chewy’s, a natural pet food company, is expanding its manufacturing facility and headquarters in Oak Creek – a project expected to create 82 new jobs and a $30 million capital investment over the next three years.

WEDC is supporting the project by authorizing up to $500,000 in state income tax credits over the next three years. The actual amount of tax credits Stella & Chewy will receive is contingent upon the number of jobs created and the amount of capital investment during that period.

Due to significant growth in the number of customers and the size of the company, Stella & Chewy’s is expanding its capabilities of its manufacturing and business operations. The expansion will include leasing a new building, as well as the purchase of new machinery and equipment.


Total Administrative Services Corp. expands operations in Madison
Total Administrative Service Corporation (TASC), a third-party benefits administrator, is expanding its operations in Madison – a project expected to create 80 jobs over the next three years.
WEDC is supporting the project by authorizing up to $200,000 in state income tax credits based on job creation over the next three years. The actual amount of tax credits TASC will receive is contingent upon the number of jobs created during that time.

TASC is expanding its capabilities in Wisconsin to engage larger customers and expand to a broader clientele. To meet the needs of new customers, the company plans to hire 80 employees and invest $1 million, which will include the cost of onboarding new employees and computer equipment.


Lavelle Industries expanding operations in Burlington, Whitewater
Lavelle Industries Inc., a leading rubber and plastics manufacturer, is expanding its operations in Wisconsin due to growing market demand for its Korky toilet repair and custom rubber molded products. The expansion is expected to create 70 new jobs, and an economic modeling study estimates the project could indirectly generate 61 additional jobs in the region.

The first phase of the expansion is currently underway at the Whitewater facility, where the company has already started construction on an addition. Over the next three years, the company plans to invest up to $14 million in additional equipment, technology, building infrastructure and staffing to support increasing business in Burlington and Whitewater.

WEDC is supporting the expansion by awarding Lavelle up to $520,000 in state income tax credits over the next three years. The actual amount of tax credits Lavelle will receive is contingent upon the number of jobs created and the amount of capital investment the company makes during that time.


City of Brookfield receives $250,000 state grant to support redevelopment of historic train depot
WEDC awarded the City of Brookfield a $250,000 state grant to help finance the redevelopment of a former historic train depot building into a coffee shop and café.

The Community Development Investment Grant will support the relocation of an 1860s train depot in Brookfield’s historic Village Area. The historic train depot, considered the second-oldest building in Brookfield, will be moved across the street and repurposed into a Fiddleheads coffee shop and café. Fiddleheads is a wholesale and retail coffee business with six locations in southeastern Wisconsin.

The 2,500-square-foot coffee shop will also serve as the trailhead for a Waukesha County bike trail. The county will extend an existing bike trail to Fiddleheads. City officials believe the redevelopment of the depot into a coffeeshop and its establishment as the trailhead will generate foot traffic and growing opportunities to the Village Area, which will in turn benefit the existing local businesses.


Village of East Troy receives $250,000 state grant to support downtown redevelopment project
WEDC awarded the Village of East Troy a $250,000 state grant to help finance the renovation of a vacant downtown building into a new microbrewery and restaurant, a project expected to provide a significant boost to the village’s business district.
The Community Development Investment Grant will be used for restoration work on the former State Bank of East Troy building, which is more than 120 years old and has been vacant since 2017.

The new business will be an integral part of East Troy’s historic Village Square, the centerpiece of downtown that regularly hosts festivals and band concerts. The building, located on southwest corner of the square, is being restored closer to its original look of 1892 and will complement the rest of the historic buildings on the square.

By | 2018-11-28T18:00:22+00:00 November 28th, 2018|Uncategorized|0 Comments

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