Contact:
Tony Hozeny, Department of Commerce, 608/267-9661
MADISON-Gov. Jim Doyle today announced that Nu-Pak, Inc., Boscobel, Grant County, will $250,000 in Community Development Zone (CDZ) credits from the Department of Commerce (Commerce) for a job creation project. This project will create 87 jobs.
“My Grow Wisconsin 2005 Agenda calls for upgrading and expanding our manufacturing sector because it is an important driver of the Wisconsin economy,” Governor Doyle said. “I am pleased that we could help convince this company expand in Wisconsin — more than doubling its current workforce.”
Nu-Pak, Inc. will invest $6.5 million to expand its Boscobel facility. The 40,000 square foot expansion will include manufacturing, freezer and storage areas. The company considered expanding at a location in another state. The availability of CDZ credits was instrumental in the company’s decision to expand in Boscobel rather than in an out-of-state location.
Commerce administers the Community Development Zone (CDZ) program, which offers tax incentives to businesses expanding or locating in a designated area of economic distress. Businesses can earn income tax credits for each new job created assuming one-quarter of the jobs are filled by target group workers who have faced barriers to employment, such as those dislocated by a plant closing or currently participating in Wisconsin Works (W-2) Program. Businesses can also earn a tax credit for environmental remediation. For further information, contact Peggy Burke, Commerce, 608/266-3751.
