Contact: Nick George, President
608-255-9946
Nick.George@mwfpa.org
Brian Elliott
Dir. of Communications
608-255-9946
Brian.Elliott@mwfpa.org
Wisconsin food processors today urged passage of a food processing tax credit equal to 10% of modernization or expansion costs for Wisconsin food processors and distributors.
In testimony today before the State Assembly’s agriculture committee, Nick George, president of the Midwest Food Processors Association (MWFPA) said “The food manufacturing industry is very competitive. Companies are investing in machinery and equipment that make them more productive, while insuring food safety. This initiative will help our members maintain their competitiveness.”
The proposal was included as part of the Governor’s State of the State address last month, and is similar to investment tax credits available to the state’s dairy and meat processors.
George noted that energy conservation and efficiency is of increasing importance to food processors. “The tax credit will help our small companies invest in new technologies, expand their operations, and increase efficiencies,” he added.
Agricultural food processing is one of Wisconsin’s largest manufacturing sectors and worth about $50 billion. Fruit and vegetable processing account for $3.3 billion in industrial sales in the state and processed foods are one of Wisconsin’s biggest export categories shipping $1.2 billion worth of products.
The Assembly Agriculture Committee is expected to vote on the bill tomorrow.
