Collaboration—a hallmark of Wisconsin’s approach to economic development approach—helped an innovative manufacturer embark on an eight-year plan to invest $270 million in its Wisconsin facilities and create 340 jobs.
The state, through WEDC, is providing up to $5.6 million in performance-based tax credits to Charter Next Generation (CNG). The company is one of North America’s principal producers of sustainable material science solutions for the food and medical sectors, as well as for consumer and industrial markets.
The credits will aid the company in expanding its operations in the Rock County community of Milton, where CNG already has a manufacturing facility—one of its four sites in Wisconsin.
“The partnership with WEDC allows us to expand our product offering in Milton,” said CNG CEO Kathy Bolhaus. “It also ignites an exciting opportunity to boost our employee base and benefit the Rock County infrastructure and eventually all of Wisconsin.”
The WEDC board approved the Enterprise Zone tax credits—which were later approved by the state Legislature’s Joint Finance Committee—to be earned and claimed over the next eight years.
“CNG’s commitment to creating opportunities and building strong communities in Milton and throughout Wisconsin is a win for our entire state,” said Missy Hughes, WEDC secretary and CEO.
In addition to the new Enterprise Zone for CNG, WEDC has 18 active Enterprise Zones across Wisconsin, which are expected to generate more than $3.5 billion in capital investment and facilitate the creation of about 19,000 new jobs and the retention of more than 16,000 jobs.
Local government also worked to support the project, with a Tax Incremental Financing Development Agreement providing up to $1.6 million over a 10-year period. The city will also be undertaking several infrastructure projects to advance the expansion.
Milton City Administrator Al Hulick said CNG has been a strong community partner for decades.
“We are excited to see CNG expand their operations to a new facility within the city, and we are pleased to partner with them again on this next chapter,” he said.