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ChiefExecutive.net

#13 Wisconsin

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6.95 out of 10 in Taxation and Regulation

7.95 out of 10 in Workforce Quality

7.52 out of 10 in Living Environment

Right to Work? ✓

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Attracting Big Investments

Wisconsin has been rising through the ranks of economic development with strong momentum, enhancing its business climate with tax reform and business-friendly incentives. German Gummy Bear manufacturer Haribo recently announced construction of its first North American plant in Pleasant Prairie. Taiwanese electronics manufacturer Foxconn announced in July that it would construct a $10 billion plant in southeast Wisconsin. The project, expected to be operational by 2020 and to create up to 13,000 jobs, was fueled by a package of incentives worth up to $3 billion for capital costs, workforce development and tax exemptions.

From the Governor

“This is a truly transformational step for our state, our people and our economy, and Wisconsin is ready. Through Foxconn’s historic $10 billion investment and the creation of 13,000 new family-supporting jobs, the most high-tech, cutting-edge technology in the world will be made in America, right here in Wisconsin.” —Gov. Scott Walker

Key Industries

Aerospace, BioScience, Food & Beverage, Manufacturing, Water Technology

Key Companies

Harley-Davidson
Kohl’s
Lands’ End
Manpower
Oshkosh
Dollar General
ABC Supply
Ashley Furniture Industries
Schneider Electric
Kwik Trip

Key Contacts

Economic Development Corp.

Barb LaMue, VP
608-210-6760
201 W Washington Ave
P.O. Box 1687
Madison, WI 53701
barb.lamue@wedc.org
http://inwisconsin.com/

Mark Hogan, Secretary & CEO
(608) 210-6700
201 W Washington Ave
P.O. Box 1687
Madison, WI 53701
mark.hogan@wedc.org
http://inwisconsin.com/

Key Incentives

Enterprise Zone Tax Credit: Offers refundable tax credits for companies undertaking major expansion projects or relocating major business operations from other states to Wisconsin.

Manufacturing and Agriculture Credit: Eliminates tax on income from manufacturing activity in Wisconsin. Credit amounts to 75%, resulting in an effective income tax rate of .4%.

Brownfields Grant Program: Offers grants to local governments and businesses for developing commercial and industrial sites that have been affected by environmental contamination.

Qualified New Business Venture Program (QNBV): Drives investment to innovate early-stage companies by allowing them to claim a 25% tax credit on the amount invested in a QNBV-certified business.

EDCs

Wisconsin Economic Development Corp.: inwisconsin.com

Wisconsin Economic Development Association: weda.org

Forward Wisconsin: forwardwi.com

Metropolitan Milwaukee Association of Commerce: mmac.org/economic-development1.html

Highlighted Program or Initiative

The Think-Make-Happen initiative is supported by the Wisconsin Economic Development Corporation, partners and the public to drive interest in living, working and succeeding in the state.

Big Deals

• Dollar General announced in September 2015 plans to build a $79 million, one-million-square- foot distribution center in Janesville and add 550 jobs.
• German candy company Haribo announced in March 2017 it would locate its first manufacturing facility in North America in Pleasant Prairie. The company will invest $220 million and create 385 jobs.
• Chinese technology company Foxconn announced it would open a $10 billion advanced manufacturing campus in southeastern Wisconsin and create 13,000 jobs. It will be the largest greenfield foreign direct investment in U.S. history.
• Generac Power Systems announced in August 2017 it would construct a $73 million expansion at its global headquarters in Waukesha and add 400 new jobs.

Big Companies

10 Fortune 500 companies headquartered in the state, including:
Johnson Controls
Northwestern Mutual
ManpowerGroup
Kohl’s
American Family Insurance
Rockwell Automation

C-Suite Testimonials

“In the end, it became clear that Wisconsin was the best alternative for the long-term competitiveness of the company. It came down to Kenosha County and Wisconsin because of the favorable business climate and better long-term economics.” —Keith Smith, President, Vonco Products

“Wisconsin is a great place to grow our company. The state has world-class health systems and leading global healthcare technology companies and, above all, Wisconsin has great people…a business environment that attracts innovation and enterprise.” —Neal Long, CEO, ConsortiEXDynamic Recycling

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CEO CONFIDENCE INDEX

CEO Optimism Ticks Up In August, As More Businesses Predict A 2021 Recovery

A survey of nearly 500 U.S. CEOs shows an increasing number of companies planning for renewed growth in the months ahead—if the nation comes together to overcome the challenges of Covid.

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© 2019 | ChiefExecutive.net | Chief Executive Group

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