Gov. Doyle: Announces $20 million in support for Bucyrus expansion

Contact: Laura Smith, Office of the Governor, 608-261-2162

Project Will Create 515 New Jobs

OAK CREEK – Governor Jim Doyle today announced $20 million in assistance for Bucyrus International to consolidate and expand their operations and create 515 jobs. The Governor made the announcement with Bucyrus President & CEO Tim Sullivan at the company’s new site in Oak Creek.

“I am happy to announce the state will provide $20 million in Enterprise Zone tax credits to support the expansion of Bucyrus and the creation of 515 jobs in the Milwaukee area,” Governor Jim Doyle said. “Since the national economic crisis began, we have used these new tax credits and incentives to help retain and attract companies across the state – from Republic Airways to Mercury Marine to Harley-Davidson. And today, we are using these new tax credits to help Bucyrus create jobs in Wisconsin.”

Governor Doyle announced the state is providing $20 million in Enterprise Zone tax credits to support Bucyrus’s consolidation and expansion. The state has designated the area as one of 12 Enterprise Zones. Governor Doyle has used the powerful Enterprise Zones credits to help retain and create jobs at ULINE, Republic Airways, Mercury Marine and Oshkosh Corporation.

Bucyrus is investing $44 million for the project, including $5 million for worker training and $39 million in capital investment to rehabilitate the former Midwest Airlines headquarters in Oak Creek. Bucyrus is known for producing high-quality mining equipment for companies around the world and has grown to 10,000 employees in nearly 100 worldwide locations.

Since 2005, Governor Doyle has supported Bucyrus in its efforts to grow in Wisconsin. The state has provided over $4.5 million in support to help add nearly 500 new jobs. Governor Doyle has also worked closely with Bucyrus in its efforts to create hundreds manufacturing jobs by expanding its exports of advanced mining equipment. Last week, the U.S. Export-Import Bank granted final approval for loan guarantees for equipment built by Bucyrus in the Milwaukee area.

This project builds on Governor Doyle’s efforts to position Wisconsin for future growth. Since taking office in 2003, Governor Doyle has worked aggressively to create and retain jobs in Wisconsin. Governor Doyle’s budget last year created some of the strongest economic development tools in the nation to help businesses create jobs and get people back to work. Wisconsin now has powerful new tax credits to help manufacturers create and retain jobs, new tools to help investors create start-ups, and new incentives to spur research and development.