Gov. Doyle: Announces tax credits for Fischer Precise USA, Inc.

Contact: Tony Hozeny, Department of Commerce, 608-267-9661

Project to create 14 positions

MADISON—Governor Jim Doyle announced today that Fischer Precise USA, Inc., Racine, Racine County, will receive $63,000 in tax credits from the Economic Development Tax Credit Program from the Department of Commerce (Commerce) to help upgrade the equipment for its facility in Racine and create 14 new jobs over the next three years.

“My top priority has been and will continue to be helping businesses upgrade, expand and create good-paying jobs for our citizens,” Governor Doyle said. “I am pleased that we could assist Fischer Precise USA, Inc. in bringing new jobs to Wisconsin.”

Fischer Precise USA provides high speed rotational systems, which are used in many industries such as aerospace, electronic, and medical. The company recently moved its product line to Racine and is investing $1.3 million to upgrade its equipment.

This project builds on Governor Doyle’s efforts to position Wisconsin for future growth. Since taking office in 2003, Governor Doyle has worked aggressively to create and retain jobs in Wisconsin. Governor Doyle’s budget last year created some of the strongest economic development tools in the nation to help businesses create jobs and get people back to work. Wisconsin now has powerful new tax credits to help manufacturers create and retain jobs, new tools to help investors create start-ups, and new incentives to spur research and development.

Last week, Governor Doyle signed the CORE Jobs Act to build on these efforts by creating and expanding a number of tax credit programs for angel and venture capital investments. The CORE Jobs Act also strengthens successful programs for manufacturing, research and development, and worker training. In addition, the Governor recently signed two bills to expand the successful Enterprise Zone program to help create and retain jobs.

For more information on Commerce programs and services, contact the Commerce area development manager at http://commerce.wi.gov/BD/BD-AreaDevManagers.html.