Global sales of cheese, sausage, gummy bears, generators and factory equipment are some of the drivers behind the latest Wisconsin business expansions, new data from the state’s economic development agency shows.
Fifty projects eligible for state tax credits in 2017 represent $11.7 billion in investments and thousands of new jobs, according to Wisconsin Economic Development Corp. But one big project — the Foxconn Technology Group factory planned for Mount Pleasant — makes up $10 billion of that amount.
And of the $3 billion in WEDC tax credits the companies could receive, $2.85 billion has been allocated for Foxconn, the Taiwanese electronics giant that says its flat-screen manufacturing plant could employ 13,000 people by the end of 2022.
Foxconn aside, what’s left are $1.7 billion in expansion projects and about $114 million in WEDC tax credits.
Ranked second on the list, convenience-store operator Kwik Trip Inc. plans to spend $309 million to expand and upgrade its operations in La Crosse, an effort expected to create more than 300 jobs. The company will receive up to $21 million in state income tax credits in exchange for the investment and jobs.
No. 3 in the rankings is Haribo of America, the German manufacturer of gummy bear candy that plans to build a factory in Pleasant Prairie — a $220 million investment eligible for up to $21 million in tax credits.
Haribo’s announced plans call for a 500,000-square-foot plant with about 385 jobs. It would be the first North American candy factory for the company based in Bonn, Germany.
In Waukesha, Generac Power Systems is expanding its headquarters and making improvements in its manufacturing plants in an $86.8 million project that’s expected to create about 400 jobs.
The manufacturer of portable and backup power generators could receive up to $10 million in tax credits through 2021.
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