Dept. of Commerce: Gov. Doyle Announces Development Project in Oconto
Tony Hozeny, (608) 267-9661
MADISON-Gov. Jim Doyle today announced that Graphic Management Specialty Products, Inc., Oconto, Oconto County, will receive $87,000 in Community Development Zone Program tax credits. Graphic Management Specialty Products, Inc. manufactures pressure-sensitive labels, single-color and custom placemats, packaging components for the food industry, and hospital menus.
"My Grow Wisconsin initiative calls for supporting innovation in our business climate," Gov. Doyle said. "I am pleased to provide this funding to Graphic Management Specialty Products, Inc. This project will stimulate the local economy and strengthens this company's reputation as an industry leader."
"I am pleased that Commerce could participate in a project that will help Graphic Management Specialty Products, Inc. increase its productivity and expand into new markets," said Department of Commerce (Commerce) Secretary Cory L. Nettles. "This project will create 29 jobs at an average wage of $10.22/hr., retain 41 employees and represent an investment of approximately $1 million."
Since 1998, Commerce has certified 11 businesses for projects that will generate $52.1 million in new investment and 450 new jobs for the Marinette-Oconto Community Development Zone (CDZ).
Commerce administers the CDZ Program, which offers tax incentives to businesses expanding or locating in a designated area of economic distress. Businesses can earn income tax credits for each new job created assuming one-quarter of the jobs are filled by target group workers who have faced barriers to employment, such as those dislocated by a plant closing or currently participating in the Wisconsin Works (W-2) Program. Businesses can also earn a tax credit for environmental remediation. Participants in the CDZ Program are Ashland-Bayfield-Price Counties, Beloit, Crawford-Richland-Vernon Counties, Eau Claire, Florence-Forest-Langlade-Lincoln Counties, Fond du Lac, Grant-Lafayette Counties, Green Bay, Iron County, Janesville, Juneau-Adams-Marquette Counties, Kenosha, La Crosse, Lac du Flambeau, Manitowoc, Marinette-Oconto Counties, Milwaukee, Racine, Stockbridge-Munsee, Sturgeon Bay, Superior, and Two Rivers. For further information on the CDZ Program, contact Amy Cumblad, Commerce, (608) 266-2688.