Jagemann Stamping Company Completes Manufacturing Expansion in Manitowoc, Wisconsin
Area Development Online News Desk (11/26/2013)
A manufacturer of deep drawn, progressive and fine blanking metal stampings, Jagemann Stamping Company completed its manufacturing center expansion project in Manitowoc, Wisconsin, which included a 50,000-square-foot building addition. The company plans to add up to 100 additional employees.
“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, CEO.
The expansion project, which began in May 2013, is the result of partnerships with the City of Manitowoc, the Wisconsin Economic Development Corporation, and Jagemann’s financing partners.
“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.”
As an incentive, the company is 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.