WI: Sussex IM Invests $9.9M to Expand Operations, Creating 84 Jobs
8 Apr, 2021
Sussex IM, a custom plastic injection molding enterprise, will be expanding its operations in Waukesha County, Wis., with $9.9 million in capital investment expected to create 84 jobs.
“In addition to the jobs created by this project, this expansion will allow Sussex IM to take advantage of a growing market and increased demand for its services,” said Missy Hughes, secretary and CEO of WEDC. “These projects mark the latest example of companies choosing to establish or expand operations in Wisconsin because of our positive business climate and dedicated workforce.”
WEDC is supporting the project by authorizing up to $200,000 in state income tax credits over the next three years, contingent on the actual amount of capital investment and jobs created. WEDC has also awarded up to $2.63 million in volume cap allocation for the project’s industrial revenue bond (IRB) financing. IRBs are a financial product that allow the public and private sectors to cooperate on business expansions. The program enables companies to take advantage of the municipal bond market and access lower interest rates to finance capital expenditure spending.
Part of the company’s capital investment will go toward building a clean room space in order to meet increasing demand for molded medical products made in the U.S. It also plans a new extrusion blow-molding line with the capacity to produce up to 10 million antibacterial wipe canisters annually.
Sussex IM Inc. began as Sussex Plastics in 1977. Today it is a complete molding, decorating and assembly solutions provider to the consumer goods, health care, agricultural and industrial markets.
(c)2003-2021 Trade & Industry Development is a publication of Due North Media - a division of Due North Consulting, Inc.
Copyright 2001-2021, Due North Consulting, Inc. -- All rights reserved.
The material on this site is protected by United States copyright and other intellectual property laws and may not be reproduced, rewritten, distributed, re-disseminated, transmitted, cached, displayed, published, broadcast, directly or indirectly, in any medium without the prior written permission of Due North Consulting, Inc.