WEDC lists top economic development deals of 2019

WEDC lists top economic development deals of 2019

2019-12-27T12:03:35-06:00December 26, 2019|News|

MADISON, WI. DEC. 26, 2019 — The Wisconsin Economic Development Corporation (WEDC) today released its list of Wisconsin’s biggest economic development deals of 2019. This calendar year, WEDC assisted 289 businesses and communities across 16 industries, totaling more than $250 million in awards.

The more than $1.2 billion in planned capital investments for the projects supported by WEDC this year are expected to create more than 3,165 jobs and retain almost 14,000 jobs across the state. Of these awardees, 31 have planned capital investment of more than $10 million.

WEDC’s 2019 awards consisted of 158 grants, 47 investor tax credit awards, 20 loans and 57 historic preservation or business tax credit awards.

“These companies and communities play a key role in strengthening our state’s economy by investing in Wisconsin and creating jobs that pay well,” said Missy Hughes, secretary and CEO of WEDC, the state’s lead economic development organization. “2019 was a successful year for WEDC in carrying out our mission to advance and maximize opportunities for Wisconsin businesses, communities and people to thrive in a globally competitive environment.”

The list is based on all corporate expansion and attraction projects in which contracts between WEDC and the company were executed in 2019. The job projections, estimated project costs and the award amounts from WEDC are based on the requirements set forth in each contract. All WEDC tax credits are performance-based, and the amount of credits a company receives is contingent upon the actual numbers of jobs created and the amount of capital investment made.

2019 top Wisconsin economic development projects:

  1. ND Paper Inc.
    Estimated total project cost: $189 million WEDC investment: $1.7 million in tax credits
    Project scope: Expansion at Biron mill
    Estimated job impact: 27 new jobs created and 342 jobs retained
  2. Nouryon Pulp and Performance Chemicals LLC
    Estimated total project cost: $99 million
    WEDC investment: $850,000 in tax credits
    Project scope: Manufacturing facility expansion in Howard
    Estimated job impact: 56 new jobs created
  3. Catalent Pharma Solutions LLC
    Estimated total project cost: $74 million
    WEDC investment: $1.3 million in tax credits
    Project scope: Madison facility expansion
    Estimated job impact: 145 new jobs created and 277 jobs retained
  4. Matalco Wisconsin LLC
    Estimated total project cost: $70 million
    WEDC investment: $1.5 million in tax credits
    Project scope: New facility in Wisconsin Rapids
    Estimated job impact: 80 new jobs created
  5. Nexus Pharmaceuticals Inc.
    Estimated total project cost: $67 million
    WEDC investment: $1.5 million in tax credits
    Project scope: New manufacturing facility in Pleasant Prairie
    Estimated job impact: 77 new jobs created
  6. Sub-Zero Group Inc.
    Estimated total project cost: $70 million
    WEDC investment: $1 million in tax credits
    Project scope: New research and development facility in Fitchburg
    Estimated job impact: 100 new jobs created and 1,759 jobs retained
  7. Badger Solutions LLC
    Estimated total project cost: $49 million
    WEDC investment: $600,000 in tax credits
    Project scope: Conversion of existing commercial building into a full-service box plant in Sturtevant
    Estimated job impact: 88 new jobs created
  8. Eurofins Food Chemistry Testing US Inc.
    Estimated total project cost: $41 million
    WEDC investment: $400,000 in tax credits
    Project scope: New lab facility and administration space
    Estimated job impact: 85 jobs created and 325 jobs to be retained
  9. Salm Partners LLC
    Estimated total project cost: $38 million
    WEDC investment: $600,000 in tax credits
    Project scope: Expansion in Denmark, Brown County
    Estimated job impact: 55 jobs created and 388 jobs retained
  10. City of Stevens Point
    Estimated total project cost: $31 million
    WEDC investment: $250,000 grant
    Project scope: New mixed-use housing and commercial development
  11. American Builders & Contractors Supply Co. Inc.
    Estimated total project cost: $25 million
    WEDC investment: $950,000 in tax credits
    Project scope: Construction of new shared service center in Beloit
    Estimated job impact: 195 jobs created and 637 jobs retained
  12. Deere & Company
    Estimated total project cost: $24 million
    WEDC investment: $250,000 in tax credits
    Project scope: Expansion project in Horicon, Dodge County
    Estimated job impact: 12 jobs created and 768 jobs retained
  13. Faith Technologies Inc.
    Estimated total project cost: $20 million
    WEDC investment: $800,000 in tax credits
    Project scope: New manufacturing expansion
    Estimated job impact: 275 jobs created and 1,517 jobs retained
  14. Menard Inc.
    Estimated total project cost: $19 million
    WEDC investment: $500,000 in tax credits
    Project scope: Expansion project in Eau Claire
    Estimated job impact: 35 jobs created and 2,988 jobs retained