Dept. of Commerce: Gov. DOYLE Announces Funding for ANTECO PHARMA, LLC
For Release: March 25, 2004
Contact: Tony Hozeny, (608) 267-9661
MADISON - Gov. Jim Doyle announced today that Anteco Pharma, LLC, Lodi, Columbia County, in the South Central Region Agricultural Development Zone will receive $93,800 in tax credits. The South Central Region Agricultural Development Zone includes the counties of Columbia, Dodge, Green Lake, Marquette, and Sauk.
"My Grow Wisconsin initiative calls for supporting Wisconsin's agricultural industry," Gov. Doyle said. "I am pleased to provide this funding to Anteco Pharma, LLC. The State of Wisconsin needs to do everything it can to create new opportunities in the agribusiness industry."
"We support promoting regional cooperation and strengthening our agricultural base," said Department of Commerce (Commerce) Secretary Cory L. Nettles. "With today's award, Anteco Pharma, LLC will be able to purchase new equipment and achieve full production."
"This project is another example of what the state and local governments can accomplish by working together to create jobs and improve Wisconsin's economy," Lodi Mayor Paul Fisk said.
"The tax credit program was created by our Wisconsin Legislature to assist in encouraging job creation and new business start-ups in rural areas," said Nancy Elsing, Executive Director at the Columbia County Economic Development Corporation. "Our South Central Agricultural Development Zone has continued to grow our area's agricultural economy by assisting Anteco Pharma, LLC. It is another excellent agri-business that will continue to grow in Lodi."
Anteco Pharma, LLC is a start-up company that will provide large-scale freeze-drying services to the pharmaceutical, diagnostic and specialty food industries. The company is investing $1.1 million in equipment and operating funds. The project will create seven positions at an average wage of $31.43/hour.
The Agricultural Development Zone (ADZ) program offers tax credits for use by locating or expanding agribusinesses. Agribusinesses can claim income tax credits for the creation of jobs and capital investment and for environmental remediation activities. For information on the ADZ program, contact Amy Cumblad, Commerce, at (608) 266-2688.