WEDA Wire – WEDC Bulletin (July 31, 2018)

WEDC Bulletin

An economic development update from the Wisconsin Economic Development Corporation

 

Green Bay Packaging. announces $500 million expansion

Green Bay Packaging Inc. has announced an investment of more than $500 million that includes a construction of a new recycled paper mill and an expansion of the company’s shipping container division – a project expected to create 200 jobs throughout the state.

With $500 million in capital investment, the expansion of Green Bay Packaging will be one of the largest economic development projects in state history and the largest ever in Brown County. WEDC is supporting the project by providing the company with up to $60 million in tax credits over 12 years.

The new state-of-the-art recycled paper mill will replace an existing recycled paper machine that was originally built in 1947 and has been rebuilt three times since. The new mill, which will cost over $475 million and take three years to build, will last more than 50 years, company officials say. Building the new mill in Green Bay will enable the company to continue to grow in Wisconsin and could result in other long-term investments in the state.

 

Milwaukee Tool expansion project receives support from WEDC

WEDC has awarded Milwaukee Tool Co. with up to $8 million in state tax credits to support the company’s plans to build a $32 million R&D facility in Brookfield – a project expected to create 350 new jobs.

“A little more than two years ago, Milwaukee Tool announced the expansion of their headquarters creating nearly 600 jobs in Brookfield, and now we are here today to announce yet another expansion that will create 350 more jobs,” said Governor Walker, who joined company officials in a ceremonial groundbreaking event at the company’s headquarters on July 13.

Milwaukee Tool’s newest expansion project will occupy a 3.5-acre site and will be part of the company’s expansion of their Global Headquarters Campus. This newest expansion will house the company’s advanced manufacturing, engineering, and global research and development center.

 

WEDC supports three communities with state grants to spur downtown development

WEDC has awarded three Community Development Investment grants to cities across Wisconsin. These grants help support development in downtown communities.

  • Beaver Dam received a $126,100 grant to help finance the redevelopment of a vacant building into a new downtown microbrewery. The grant will support renovations of an existing, vacant building located on a 14,900-square foot lot, which had been a used car sales lot, to make room for a state-of-the-art microbrewery called Ooga Brewing Co.
  • Janesville received a $250,000 grant to help finance the construction of a new downtown hotel. The grant will support the new construction of a Cobblestone Hotel & Suites, a 53-room, four-story hotel overlooking the Rock River. The 33,000-square-foot hotel will include an indoor pool, an exercise facility and a restaurant.
  • Fond du Lac received a $250,000 grant to help fund the renovation of the historic Hotel Retlaw. The grant will support the redevelopment of the property into a full-service hotel providing affordable luxury with modern amenities, a restaurant and a meeting space.

 

J.W. Speaker Corp. to expand operations in Germantown

J.W. Speaker, a family-owned specialty lighting manufacturer, is expanding its manufacturing facility by an additional 140,000 square feet in Germantown – a $46 million project expected to create 100 new jobs over the next three years.

WEDC is supporting the project by authorizing up to $450,000 in state income tax credits over the next three years. The actual amount of tax credits J.W. Speaker will receive is contingent upon the number of jobs created and the amount of capital investment during that period.

The expansion will provide the company flexibility for its current operations, help alleviate capacity constraints, and allow for additional expansion in the future.

 

Drexel Building Supply to expand in Columbia County

Drexel Building Supply Inc., a leading provider of building materials and design services to professional contractors and homeowners, is constructing a new facility in Columbus, a $2.1 million project expected to create 113 new jobs over the next three years.

To support the expansion plans, WEDC has authorized up to $445,000 in state income tax credits over the next three years. The actual amount of tax credits Drexel will receive is contingent upon the number of jobs created and the amount of capital investment made during that time.

 

WEDC supports four communities with state grants to redevelop idle sites

WEDC has awarded four cities with $500,000 each as part of the Idle Sites Redevelopment Grant program. These grants are used to implement redevelopment plans for large industrial sites that have been idle, abandoned or underutilized. The four recipients are:

  • Janesville received a grant to support the redevelopment of the former General Motors plant and will offset the costs of razing six buildings on the 114-acre assembly plant area, including the 3.9-million-square-foot main plant Prior to its shuttering nearly a decade ago, the property’s history includes the manufacturing of farm implements, automobiles, trucks and even artillery shells.
  • Town of Grand Chute received a grant to redevelop the site of the former National Envelope Corp. building. The grant will help offset the costs of demolishing existing structures and associated infrastructure of the 300,000-square-foot building. Now that demolition is complete, the site will be redeveloped into the new home for WG&R Furniture, a family-owned business with nine locations in northeastern Wisconsin.
  • Hudson received a grant to redevelop the former St. Croix Meadows Greyhound Racing Park to make way for a new $200 million mixed-use development which will include a baseball stadium, a hotel with conference center, corporate office space, technology and research facilities, restaurant, an indoor sports complex, and condominiums. The baseball stadium will be the home of the St. Croix River Hounds, a team in the Northwoods League that will begin play in 2019.
  • Madison received a grant to redevelop the former Oscar Mayer plant as it reconfigures outdated infrastructure at the site to deliver gas and electricity to each individual building on the 67-acre parcel. The work also includes upgrades at the buildings to comply with the federal Americans with Disabilities Act.
By | 2018-07-31T02:28:48+00:00 July 31st, 2018|Uncategorized|0 Comments

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