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Dept. of Commerce: Gov. Doyle Announces Funding for L.S.I., INC. 3/25/2004 Contact: Tony Hozeny, (608) 267-9661 MADISON - Gov. Jim Doyle announced today that L.S.I., Inc., New Glarus, Green County, in the Southwestern Agricultural Development Zone will receive $250,000 in tax credits. The Southwestern Agricultural Development Zone includes the counties of Green, Grant, Iowa, Lafayette, and Richland. "My Grow Wisconsin initiative calls for supporting Wisconsin's agricultural and food-processing industries," Gov. Doyle said. "I am pleased to provide this funding to L.S.I., Inc. 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, L.S.I., Inc. will be able to expand its operations." "L.S.I. is one of the largest employers in Green County, and the largest in New Glarus. We're pleased to see the expansion of one of our existing employers and their subsequent ability to attract a large tax credit award," said Anna Schramke, Green County Development Corporation Executive Director. "The region has a strong food and agri-business cluster and there is a great deal of interest in the Agricultural Development Zone program. The L.S.I. project is the type of expansion we hoped to attract as a result of the region's Agricultural Development Zone designation." L.S.I., Inc. produces sausage, smoked meats and meat snacks for distributors, gift packers, and retailers. The company is investing $5.7 million to construct and equip its facility in New Glarus. The project will create 40 new jobs at an average wage of $12.14/hour. It will retain 195 jobs. 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. |
