Gov. Doyle: Governor Doyle Announces $2 Million in Tax Credits to Assist Expansion of Bay Shipbuilding

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

Pat O’Hern, Bay Shipbuilding Company, 920-746-3238

Jessica Erickson, Office of the Governor, 608-261-2156

Project Could Create up to 600 New Jobs; Governor Also Announces
$161,600 Training Grant for Tufco Technologies of Ashwaubenon

STURGEON BAY – Governor Jim Doyle announced today that the
Department of Commerce will provide Bay Shipbuilding Company with $2 million
in Enterprise Development Zone credits to assist the company as it upgrades
the manufacturing facilities at its Sturgeon Bay plant. The Governor made
the announcement during a visit to the company today.

“This is a terrific win for Door County and all of
Wisconsin,” Governor Doyle said. “My Grow Wisconsin initiative calls for
investing in manufacturing so we can create good jobs for our citizens.
This project will help expand the shipbuilding industry in Door County and
continue the tradition of excellence that world markets have come to expect
from Wisconsin’s shipbuilding craftspeople. And it will support the
creation of 600 new family-supporting positions over the next three years.”

Bay Shipbuilding Co. is modernizing and upgrading its
steel-cutting-and-fabricating capability at its Sturgeon Bay facility.
Recent increased shipping activity has elevated its commercial shipbuilding,
maintenance, and repair business, leading the company to develop a two-phase
plan to increase efficiency and expand capacity. The project includes
construction of a 14,000-sq.-ft. manufacturing facility at a cost of $3
million to house a new panel line and welding equipment. Commerce is
providing $2 million in Enterprise Development Zone credits to support the

“We are honored that Governor Jim Doyle is visiting our
shipyard,” said Pat O’Hern, vice president and general manager of Bay
Shipbuilding Co. “Shipbuilding is a great example of high-end
manufacturing, and the activity we enjoy here today displays that very fact.
Wisconsin’s interest in and support of our manufacturing operations and the
partnership promoted by the Enterprise Development Zone Tax Credits are most
welcome. Governor Doyle is to be commended for his efforts.”

Through his “Grow Wisconsin” Initiative, Governor Doyle is
committed to strengthening and upgrading the state’s manufacturing sector
and to providing training to workers to upgrade their skills. The Governor
has directed Commerce to focus its existing training program resources to
help manufacturers train their employees.

At the Bay Shipbuilding Company event, the Governor also
announced that Tufco Technologies, Inc. of Ashwaubenon will receive a
$161,600 Customized Labor Training grant from Commerce to train 76 new and
current employees on new equipment in connection with a $3.6 million
expansion. The company provides converting services and packaging solutions
for the home, baby care, and medical care industries.

Bay Shipbuilding is part of Manitowoc Marine Group, a
subsidiary of The Manitowoc Company, Inc. Manitowoc Marine Group (MMG) is a
leading provider of shipbuilding, ship repair, and conversion services for
government, military, and commercial customers throughout the maritime
industry. Other members of MMG include Marinette Marine Corporation, Toledo
Shiprepair Co., and Cleveland Shiprepair Co.

The Manitowoc Company, Inc. is a diversified,
multi-industry, capital goods manufacturer headquartered in Manitowoc, WI.
Besides its Marine group, Manitowoc is one of the world’s largest providers
of lifting equipment for the global construction industry, including
lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom
trucks. In addition, the company produces the broadest line of cold-focused
equipment in the foodservice industry, which includes ice-cube machines,
ice/beverage dispensers, and commercial refrigeration equipment.