Gunderson Inc. intends to move its laundry facility in downtown Menasha to Neenah’s Southpark Industrial Center, according to terms of an agreement with city of Neenah.
Gunderson Inc. has been in discussions with city for several months regarding their desire to construct a new headquarters facility in Neenah to accommodate projected growth and improve the efficiency of the business. Gunderson would move the business and employees from 41 Main St., Menasha, to 1712 Dixie Road Neenah.
Gunderson is proposing to invest $10 million dollars to construct a new 75,000-square-foot building on a 13 acre site which would provide enough room for expansion.
The proposed Development Agreement contains the following terms:
- Gunderson will purchase the 13-acre site from the city for a sale price of $390,000 with a closing no later than Sept. 1, 2025.
- Gunderson will construct a new industrial laundry facility on the site with an anticipated value of $10 million and will guarantee a minimum value of $5.5 million.
- The city will provide a maximum of $1.7 million of Tax Incremental Finance assistance to support the development. Assistance will be provided as an annual payment from the additional tax revenue collected on the property based on the new value created by the project improvements. Payments are projected to continue for 13 years.
