Contact: Kelly Lietz, 608.210.6858
$22.5 million hangar addition expected to create 31 new jobs
MADISON, WI, Dec. 14, 2015 – The Wisconsin Economic Development Corporation (WEDC) has awarded $500,000 in tax credits to SC Aviation to support a $22.5 million expansion of its current hangar facility in Janesville.
Lt. Governor Rebecca Kleefisch announced the award today at a groundbreaking event for SC Aviation’s 36,000 square foot expansion to its current 12,000 square foot facility.
By expanding its facilities and adding to its workforce in Janesville, SC Aviation is building on Wisconsin’s historic and growing strength in aerospace and aviation,” said Lt. Governor Kleefisch. “We’re proud that SC Aviation is one of about 200 companies in our state leading the way in precision manufacturing, engineering, and innovation for the avionics industry.”
“We look forward to being able to accommodate our growing customer base in our new facility and to be able to offer additional services that we couldn’t have offered without this project,” said Dan Morrison, SC Aviation sales director. This is an exciting day for SC Aviation, the Janesville community and the State of Wisconsin.”
SC Aviation, a wholly-owned subsidiary of Colony Brands, Inc., provides corporate charter services in addition to an aircraft management program which includes flight support, maintenance compliance, crew staffing, parts inventory management, safety management, regulatory compliance and other services. The company also provides aircraft acquisition services to buyers and lessees.
Given the highly competitive environment in which the company operates and the high costs associated with aviation equipment, SC Aviation considered expansion opportunities outside of Wisconsin, including sites at airports that actively courted the company as a prospective tenant. WEDC’s Economic Development Tax Credits are partially dependent upon the creation of 31 new full-time employees and the retention of 46 current staff.
WEDC’s Economic Development Tax Credits are designed to help companies pursue projects that will create or retain full-time jobs in Wisconsin and are allocated based on the wage range of the jobs, the number of jobs to be created or retained, the capital investment made by the business, and the training costs for new or current employees. In fiscal year 2015, WEDC executed 52 contracts awarding more than $18 million in Economic Development Tax credits to Wisconsin companies contingent upon the creation or retention of 8,626 full-time jobs.
The City of Janesville is providing $100,000 in tax incremental financing to support SC Aviation’s expansion, in addition to the Tax Credits provided by WEDC. “The City of Janesville is excited to see the expansion of SC Aviation within our community and is pleased to assist with the project,” said Gale Price, economic development director for the City of Janesville. “This expansion is another example of how the partnership between WEDC and the City of Janesville can facilitate the continued growth of businesses within Janesville and Rock County.”