2017 a record year for economic development in Wisconsin
Nearly 60 companies from Wisconsin and around the world decided to locate or expand in Wisconsin last year,
making 2017 a record-setting year for economic development
across the state. These projects are expected to create or retain nearly 30,000 jobs and result in more than $11.6 billion in capital investment.
“When it comes to economic development, 2017 has been a historic year for Wisconsin, as global companies such as Foxconn, HARIBO and Nestlé decided to establish operations in our great state after looking at many other options around the country,” Governor Scott Walker said. “At the same time, many of Wisconsin’s major employers – including Kwik Trip, Generac, Mills Fleet Farm and Johnsonville – announced major expansion plans this year because of our dedicated workforce and the strong pro-business climate we’ve created.”
Topping the list of projects is Foxconn’s Technology Group’s historic investment in Racine County, a project expected to create up to 13,000 family-supporting jobs and generate up to $10 billion in capital investment. WEDC has agreed to provide Foxconn with up to $2.85 billion in performance-based tax credits for what is the largest economic development project in Wisconsin history and one of the largest ever in the U.S.
The second-largest project contracted in 2017 was Kwik Trip Inc.’s $309 million planned expansion in the La Crosse region, a project that will enable the growing company to meet its current and future capacity needs. WEDC has authorized Kwik Trip to receive up to $21 million in state income tax credits over the next five years for the project, which is expected to create more than 300 new jobs.
Rounding out the top three projects of the year was HARIBO’s planned $220 million manufacturing facility in Kenosha County, a project expected to create 385 jobs. WEDC has awarded HARIBO up to $21 million in performance-based tax credits for the project, which will be the German candy-maker’s first manufacturing facility in North America.
“2017 was a successful year for WEDC, as we assisted more than 300 businesses and communities as part of our mission to advance and maximize opportunities to help them thrive in a globally competitive environment,” said Mark R. Hogan, secretary and CEO of WEDC. “Each of these organizations plays a significant role in continuing to grow the state’s economy by creating family-supporting jobs and investing in Wisconsin."
