Jagemann Stamping Company Completes Expansion In Manitowoc, Wisconsin
Area Development Online News Desk (11/13/2013)
A manufacturer of deep drawn, progressive and fine blanking metal stampings, Jagemann Stamping Company completed its expansion in Manitowoc, Wisconsin. Its development project which began in May, included a 50,000-square-foot building addition and creation of up to 100 jobs.
Jagemann currently has locations in Manitowoc and Murfreesboro, Tennessee. “We are excited with the progress of this project, which will allow us the necessary space and equipment to achieve our growth goals and better meet customers’ needs,” said Tom Jagemann, the firm’s Chief Executive Officer.
The firm achieved its planned growth with assistance of the City of Manitowoc, Wisconsin Economic Development Corporation, and Jagemann’s financing partners. The company is also eligible for $620,000 in tax credits through the Wisconsin Economic Development Corporation. The tax credits will be distributed annually based on the number of new, full-time positions created over a three-year period.
“We are pleased to partner with Jagemann for its expansion to accommodate additional capacity and facilitate increased international penetration,” said Reed Hall CEO and Secretary of WEDC.
“This $18.9 million expansion is a huge boost for the Manitowoc area,” Gov. Scott Walker said. “The company is well on its way with recruiting efforts, as well as the hiring and training of new employees.”