Contact:
Tony Hozeny, Department of Commerce, 608/267-9661
MADISON – Governor Jim Doyle today announced that Tom Joy & Son, Inc.,
Peshtigo, Mainette County, will receive $150,000 in Community Development
Zone (CDZ) tax credits from the Department of Commerce (Commerce) to
purchase equipment and expand its business.
“My ‘Grow Wisconsin’ Initiative calls for helping businesses make a lasting
investment in Wisconsin’s economy,” Governor Doyle said. “This project will
stimulate the local economy and create jobs for the community. I applaud
Tom Joy & Son, Inc. for making this investment, and bringing new jobs to
Marinette County.”
“Support from Governor Doyle, members of the Department of Commerce and the
Marinette County Association for Business & Industry allows us to expand our
business more aggressively with our strategy of continued growth in
Marinette County,” said Daryl Joy, Owner and President of Tom Joy & Son,
Inc. “By attracting and retaining safe, professional over the road truck
drivers and support staff, we are able to respond to the strong demand for
our services in the growing Wisconsin economy.”
Tom Joy & Son, Inc. is a trucking, logistics and storage company. The
company is expanding to meet the needs of a growing market. This project
will create 23 jobs and retain 41 jobs. The total project cost is $8.4
million.
The Department of 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 more information about the CDZ program, contact Peggy Burke, Commerce,
at 608/266-3751.
