The Wisconsin Economic Development Corporation (WEDC) has authorized up to $250,000 in state income tax credits over three years for a project at John Deere Horicon Works. The company plans to invest $24 million to expand its manufacturing space and add 12 jobs over the next three years.
The actual amount of tax credits Deere & Company will receive is contingent upon the number of jobs created and the amount of capital investment during that period.
“John Deere’s investment solidifies the company’s continued commitment to our state and is a testament to the strength of our manufacturing industry,” said Missy Hughes, secretary and CEO of WEDC, the state’s lead economic development organization. “WEDC is proud to make this project viable for John Deere Horicon Works, and I look forward to seeing their continued success in Wisconsin.”
John Deere Horicon Works manufactures premium lawn equipment and Gator utility vehicles and has approximately 800 employees. The business is owned by Deere & Company, a world leader in the design and production of equipment for agriculture, construction, roadbuilding, forestry and turf care.
“Improvements we make to any John Deere manufacturing facility are focused on better serving our customers,” said Steve Johnson, factory manager at the Horicon Works. “The incentive programs offered by the State of Wisconsin help us to retain jobs here and continue to grow the success of our Wisconsin business operations.”
Deere’s $24 million investment will add a 22,000-square-foot building and new equipment to improve cycle time of key business operations. In addition to the 12 jobs expected to be created by Deere & Company, an economic modeling study estimates the project could indirectly generate 14 additional jobs in the region. Those 26 total new jobs are expected to have an annual impact of $39,002 in state income taxes.
“Deere & Company’s continued investment in Horicon is great news for the families of Dodge County,” said state Rep. Mark Born. “The $24 million investment in Horicon shows John Deere’s commitment to the area. I would like to thank them for helping our community continue to be a great place to live, work and raise a family.”
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