Dept. of Commerce: Governor Announces $250,000 in Technology Tax Credits to Help TTM Technologies Create Jobs, Invest in Workplace

Contacts:
Tony Hozeny, Department of Commerce, 608-267-9661
Jessica Erickson, Governor’s Office,
608-261-2156

Doyle Announces Award, Which Will Help Company Create Over
200 Jobs, During ‘Grow Wisconsin’ Forum in Eau Claire

EAU CLAIRE – At a “Grow Wisconsin” Forum in Eau Claire
today, Governor Jim Doyle announced that TTM Technologies of Chippewa Falls
will receive $250,000 in Technology Zone tax credits, helping the company
create and retain jobs and make a major investment in its workplace.

“Fostering the growth of our technology businesses statewide
is essential to a strong Wisconsin economy. And through my Grow Wisconsin
plan, we are working hard to grow our technology base by supporting regional
cooperation and enhancing our Technology Zone program,” Governor Doyle said.
“I am pleased that we are able to provide these tax credits to TTM
Technologies to assist the company as it creates family supporting jobs and
makes a new investment in Western Wisconsin.”

The award will help TTM Technologies create 214 jobs, retain
751 jobs at its Chippewa Falls facility, and move forward with an $8.2
million investment in high-tech equipment.

TTM Technologies produces complex printed circuit boards for
world leaders in the computer field. The company has three facilities, with
the largest – its Chippewa Falls plant – responsible for over half of the
company’s total revenues. TTM Technologies is investing $8.2 million in new
processes and equipment to improve its manufacture of circuit boards
designs, performance, and reliability.

Wisconsin’s Technology Zone program is an economic
development initiative that helps stimulate the growth of businesses in the
state’s high-technology sectors. Under the program, tax credits are made
available to high tech businesses locating or expanding in one of eight
technology zones statewide.

Last November, Governor Doyle signed legislation that
enhances the Technology Zone program by fixing a flaw in the program that
prevented companies that organized their corporate structure as a limited
liability company or a partnership – which includes many small businesses
and start-up companies – from competing equally for the available credits.

“This new law makes these tax credits more accessible to
more small companies statewide and to technology companies in the start-up
phase when financial assistance is most critical,” Governor Doyle said.
“Most importantly, it will encourage job creation and capital investment in
the technology sector.”

TTM Technologies is part of the I-94 Corridor Technology
Zone, which provides incentive for high-tech growth in computer and
electronic technologies, telecommunications, utilities, medical
technologies, and machinery, among others. The zone includes the counties
of Chippewa, Dunn, Eau Claire, Pierce, Polk, and St. Croix.

The Governor announced the award at a “Grow Wisconsin” Forum
he hosted at the Chippewa Valley Technical College in Eau Claire. The forum
brought together state officials to discuss state programs for
entrepreneurship, housing development, small business development, and
community and economic development.

Announced by the Governor last September, “Grow Wisconsin”
is a comprehensive plan of action to improve job training, promote high-tech
industries, invest in manufacturing, implement regulatory reforms, improve
the state’s infrastructure, and unleash over $1 billion in public and
private investment.

For more information about Wisconsin’s Technology Zone
program, contact Amy Cumblad at the Department of Commerce at (608)
266-2688.