Contacts:
Tony Hozeny, Department of Commerce, 608-267-9661
Ethnie Groves, Office of the Governor, 608-261-2156
Award Will Help Waukesha Company Create 30 New Jobs, Retain 375 Jobs
Governor Jim Doyle announced today that MetalTek
International, Inc. of Waukesha will receive $163,300 in Technology Zone tax
credits, helping the company create and retain jobs and make an investment
in its workplace.
“We’ve made great progress to enhance our Technology Zone
program and support regional cooperation through my ‘Grow Wisconsin’ plan,
and we will continue to encourage the development of high-technology
companies throughout the state,” Governor Doyle said. “I am pleased to
provide this funding to MetalTek International. This project will stimulate
the local economy and retain jobs needed for this community.”
MetalTek will invest $2.7 million to purchase additional
manufacturing equipment. This project will create 30 new positions at an
average wage of $16.18/hr. and retain 375 jobs.
“I would like to thank Governor Doyle and the Department of
Commerce for supporting manufacturing in Southeastern Wisconsin,” said John
Meland of the Southeast Regional Economic Partnership. “It is because of
this award that Metaltek will continue to support all of its employees and
integrate new state-of-the-art equipment.”
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.
The Governor’s “Grow Wisconsin” plan called for improving
the Technology Zone program, making it more efficient and more accessible
for small businesses and start-up companies. Last November, the Governor
signed legislation that did just that. The bill fixes 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.
Under the new law, these tax credits are now more accessible
to more small companies statewide and to technology companies in the
start-up phase when financial assistance is most critical.
MetalTek specializes in centrifugal cast products that are
especially suited for severe operating environments that require strength
while resisting wear, corrosion and/or temperatures. The company also
operates one of the most extensively equipped, versatile machining
operations in the industry.
MetalTek is part of the Metropolitan Milwaukee Technology
Zone, which includes the counties of Milwaukee, Waukesha, Ozaukee, and
Washington.
For further information about Wisconsin’s Technology Zone
program, contact Amy Cumblad at the Department of Commerce at 608-266-2688.
