Four Northeast Wisconsin businesses are investing a total of $130 million with the goal to retain more than 320 jobs and create 280 new jobs in the region.
These investments are backed as tax credits and loans from the Wisconsin Economic Development Corp., a county revolving loan fund loan and a village tax incremental finance district.
WEDC Secretary Reed Hall toured the businesses to discuss state and local partnership.
“These investments to start operation, modernize, expand and improve operations through asset merger show that the business climate in Wisconsin continues to improve,” Hall said. “We are pleased to be part of helping these companies get a firm footing and expand.”
The businesses are: North American Finishing in Suring; Green Bay Packaging Inc.; WS Packaging in Green Bay and Architectural Forest Products in Two Rivers. The results of the investments result in the following developments:
· North American Finishing is on the verge of full production of customized hardwood flooring. The company is nearing completion of the first stages of a planned $27 million investment.
· Green Bay Packaging Inc. is retaining its workforce of 280. The company also plans to build a new 240,000-square-foot building and purchase converting equipment for its manufacturing operation. The company is undertaking a $95 million expansion of its coated products operation in Ashwaubenon. Green Bay Packaging is eligible for up to $1.976 million in tax credits through the WEDC. The Village of Ashwaubenon is providing a $1 million TIF incentive.
· WS Packaging is investing more than $7.9 million to expand its operation as part of a company-wide planning process. The expansion is expected to retain 45 positions and create 20 new full-time positions at this location. WS Packaging is eligible for up to $300,000 in tax credits through WEDC.
· Architectural Forest Products LLC expects to double its production capacity of specialized wood products, following the merger of a Two Rivers and Canadian wood products company.
Architectural Forest Products LLC, was formed with the asset merger of Architectural Forest Products Inc., Two Rivers, and Architectural Wood Products in Vaudreuil, Canada. Since the merger, Architectural Wood Products’ assets have relocated to Two Rivers. The merged company expects to double the sales of Architectural Forest Products and add up to 18 employees. The planned capital investment is supported by a $565,000 loan guarantee for a working capital line of credit by WEDC.
– Sean Lyons