WI: Wikoff Color Corp. to Establish Facility in Lisbon, to Hire 25
23 Dec, 2021
Wikoff Color Corporation, an ink and print company, is constructing a new, 40,000-square-foot plant in Lisbon.
The Wisconsin Economic Development Corporation (WEDC) is supporting the project by authorizing up to $200,000 in state income tax credits over the next three years. The actual amount of tax credits Wikoff Color will receive is contingent upon the number of jobs created and the amount of capital investment during that period.
“The investment by Wikoff Color solidifies the company’s continued commitment to Wisconsin and is a testament to the strength of our manufacturing industry,” said Missy Hughes, secretary and CEO of WEDC. “This investment is the latest example of the many forward-looking companies choosing to expand operations in Wisconsin because of our state’s lead in flexible packaging and our strength in the food-and-beverage sector.”
The project was consolidates three Wikoff facilities located in Canada, Wauwatosa, and Green Bay, into one location in Lisbon.
Lisbon was chosen because it enables Wikoff Color to better serve its existing customers who purchase print-related inks and materials as well as being closer to new potential customers, said Martin Iles, chief financial officer of Wikoff Color.
“We know that Wisconsin is a really big hub for the packaging industry, a lot of our customers are concentrated there,” he said.
The new Wikoff facility will specialize in “flexible packaging,” an area that Iles said is a market the company wants to grow in.
Flexible packaging, in this case, comes in the form of pouches. Some familiar examples include GoGo squeeZ applesauce or Capri Sun juice pouches.
The company plans to make a $5.4 million investment in the facility and spent an additional $2 million before seeking WEDC assistance. Wikoff plans to create 25 new jobs over the next three years.
In addition to the 25 jobs expected to be created, an economic modeling study estimates the project could indirectly generate 61 additional jobs regionally. Those 61 jobs new jobs are expected to generate $3,061,893 in state income tax revenue over a five-year period.
Wikoff Color was founded in 1956 when Fred C. Wikoff, Jr. recognized two important needs in the printing industry: tailor-made inks to maximize pressroom efficiencies and a highly technical, service-oriented approach to ink making.
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