Contact: Tony Hozeny, Department of Commerce, 608/267-9661
MADISON–Business that have invested in modernizing or expanding food processing plants or food warehouses in Wisconsin can apply to the Department of Commerce (Commerce) for tax credits through the new Food Processing Plant and Food Warehouse Investment Credit, Commerce Secretary Aaron Olver announced today. Application deadline for the first round of funding is June 18, 2010, and fro the second round on February 15, 2011..
‘Food processing is one of Wisconsin’s foremost industries, and we want to make sure that this industry has the tools to stay competitive in the global marketplace,” Secretary Olver said. “The tax credit can help businesses make investment that will spur their future growth and development.”
Businesses can earn up to 10 percent of the eligible expenses spent in the taxable year for modernizing and expanding food processing plants and food warehouses. The maximum amount a business can receive over the life of the program is $200,000.
Eligible expenses include
* Building construction, including food intake, handling, storage, and warehouse facilities.
* Building additions.
* Upgrades to utilities, including water, electric, heat, refrigeration, freezing, and waste facilities.
* Installing energy savings equipment or equipment that converts waste to energy.
* Food or raw material intake and storage equipment
* Processing and manufacturing equipment, including vats, cookers, freezers, pipes, motors, pumps, and valves.
* Packaging and handling equipment, including cleaning, sealing, bagging, boxing, labeling, conveying, and product movement equipment.
* Warehouse equipment, including storage racks and loading and unloading equipment.
* Waste treatment and waste management equipment, including tanks, blowers, separators, dryers, digesters, and equipment to produce energy, fuel, or industrial products.
* Computer software and hardware used for managing the claimant’s food processing or food warehousing operation, including software and hardware related to logistics, inventory management, production plant controls, and temperature monitoring controls.
Businesses that are eligible to apply for Wisconsin’s Dairy Manufacturing Facility Investment Credit or the Meat Processing Facility Investment Credit are not eligible for the Food Processing Plant and Food Warehouse Investment Credit. Retail establishments, including restaurants, are also not eligible.
Businesses can apply online at http://commerce.wi.gov/BD/BD-FPTC.html
Businesses seeking more information about this program can contact Steve Sabatke, Commerce, at 608/267-0762 or steven.sabatke@wisconsin.gov
