Unlocking Wisconsin’s Incentives for Manufacturers: A Guide to Expanding or Relocating
When it comes to site selection and expansion, manufacturers are always looking for the most strategic location with the best combination of workforce, logistics, and financial incentives. Wisconsin stands out as a prime destination for manufacturers considering new locations or expansions. With its strong industrial base, skilled workforce, and business-friendly policies, the state offers a variety of incentives designed to reduce costs and accelerate growth.
Key Incentives for Manufacturers in Wisconsin
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Enterprise Zone Tax Credits
Wisconsin offers Enterprise Zone Tax Credits (EZTC) to encourage businesses to expand or relocate in designated enterprise zones across the state. These refundable tax credits are performance-based and can be applied to:
- Job creation: Incentives for hiring and training workers.
- Capital investment: Support for building facilities and purchasing equipment.
- Supply chain development: Encouragement for using Wisconsin-based suppliers.
The amount of tax credit is determined based on company commitments and negotiated agreements with the Wisconsin Economic Development Corporation (WEDC).
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Business Development Tax Credits
For manufacturers investing in job creation and capital expenditures, the Business Development Tax Credit (BDTC) offers another powerful incentive. This refundable credit is available to companies that:
- Expand existing operations.
- Establish a new facility in Wisconsin.
- Create and retain high-paying jobs.
Credits are based on wage levels, job creation, and capital investment, making it a compelling reason for manufacturers to choose Wisconsin over competing locations.
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Tax Increment Financing (TIF)
Tax Increment Financing (TIF) is a valuable tool for manufacturers looking to develop or redevelop property in Wisconsin. Local governments can create TIF districts to help finance infrastructure improvements, land acquisition, and site preparation, reducing upfront costs for businesses. Manufacturers can benefit from TIF through reimbursements or direct financial assistance to support their expansion or relocation projects.
How Five Points Strategic Advisors Can Help
Navigating Wisconsin’s incentives landscape requires expertise and strategic planning. At Five Points Strategic Advisors, we specialize in identifying and securing the best incentives tailored to your business needs. Whether you are selecting a new site or expanding an existing facility, our team will work with you to maximize available benefits, streamline the application process, and ensure compliance with incentive agreements.
By leveraging Wisconsin’s robust incentive programs, manufacturers can significantly reduce costs, accelerate growth, and gain a competitive edge. Contact us today to explore how Five Points Strategic Advisors can help you make the most of Wisconsin’s opportunities.
