Centro Inc., based in North Liberty, Iowa, will invest $6.8 million to expand its business by adding a manufacturing facility at Beaver Dam in Dodge County, Wisconsin
Centro has a manufacturing facility in Horicon, Wisconsin, as well as facilities in Iowa, Illinois, North Carolina and North Dakota. The company provides engineering services and manufactures rotational molding products for original equipment manufacturer customers in many diverse industries, including agriculture, construction, consumer goods, HAVAC-filtration and recreational vehicles.
According to Wisconsin Economic Development Corporation, Centro’s facility in Horicon is landlocked, so the company decided to expand in nearby Beaver Dam. Its expansion is expected to create up to 71 new jobs over the next few years.
“We are pleased that Centro selected Beaver Dam for expansion of its manufacturing operation to meet its increased demand for its products,” said Reed Hall, WEDC CEO and secretary.
According to Centro President and CEO Brian Olesen, this month the company is expected to assume ownership of the land and buildings in Beaver Dam. Operations are slated to begin in early 2014, with improvements and added manufacturing capacity expected to be in place by midyear.
The company is eligible for $235,000 tax credits through the Wisconsin Economic Development Corporation
. The tax credits will be distributed annually in direct relation to the number of jobs retained over a three-year period, based on the number of new, full-time positions created.