WI: Kapco to Create 100 Jobs with Grafton Expansion Project
9 Jul, 2015
The Wisconsin Economic Development Corporation (WEDC) announced it is providing Kapco Inc. with up to $500,000 in tax credits to support the company’s expansion in Grafton – a project expected to create 100 jobs.
Kapco, a metal stamping and fabrications company, is nearing completion on a 77,000 square-foot addition that will enable the company to accommodate future growth.
The $7 million project in Ozaukee County will allow the company to increase its manufacturing space and add more equipment, which Kapco projects will results in millions of dollars in new business.
Once construction is completed in August, Kapco will have about 600,000 square feet of space in seven facilities in Wisconsin.
“We are pleased to assist this Wisconsin manufacturer as it continues to demonstrate its commitment to growing in the state,” said Reed Hall, secretary and CEO of WEDC, the state’s lead economic development organization. “This project will enable Kapco to better compete with companies in neighboring states to attract new business, which means more growth and more jobs right here in Wisconsin.”
“We are very pleased to be able to continue to grow the Kapco family of companies,” said Hani Malek, the company’s vice president of corporate development. “This not only allows us to provide family-sustaining jobs, but is the engine that propels our strong tradition, desire and commitment to giving back to the great community in which we live and work.”
To help secure the jobs, WEDC has authorized Grafton-based Kapco to receive up to $500,000 in state tax credits over the next three years. The actual amount of credits received is contingent upon the number of jobs created over that time.
About the Wisconsin Economic Development Corporation
The Wisconsin Economic Development Corporation (WEDC) leads economic development efforts for the state by advancing Wisconsin’s business climate. WEDC nurtures business growth and job creation by providing resources, technical support and financial assistance to companies, partners and communities in Wisconsin. Visit www.inwisconsin.com or follow WEDC on Twitter @_InWisconsin to learn more.