A designer and manufacturer of industrial grade tie-rod and custom engineered cylinders, Hanna Cylinders, has chosen LakeView Corporate Park as the site of its new production facility and will relocate all of its operations to Pleasant Prairie, Wisconsin
, by the end of the year. The manufacturer signed a long-term lease with ML Realty Partners to occupy a 105,637-square-foot facility in Kenosha County.
The firm produces hydraulic and pneumatic cylinders and valve actuators. The company’s primary market is the nuclear industry, but it serves the steel, military, lawn, garden, oil and gas industries. It offers nuclear valve actuation, water/marine/corrosion resistant cylinders, offshore drilling, construction and lift equipment, plastic injection molding and other related applications as well.
“The State of Wisconsin made Hanna’s decision to relocate from Illinois overwhelmingly clear. Furthermore, KABA worked diligently to facilitate the incentives and a smooth transition,” said Hanna Cylinders’ President Kimball Bradley. “Hanna is looking forward to growing and prospering in Wisconsin.” Hanna Cylinders currently employs approximately 100 people and anticipates growth that could nearly double its workforce within five years.
“We are incredibly pleased to welcome Hanna Cylinders to Pleasant Prairie,” said Village President John P. Steinbrink. “With an incredibly supportive business community, organizations like KABA, and great quality of life features, we’re confident that Hanna Cylinders will excel here.”
As an incentive, the Kenosha Area Business Alliance, Kenosha County’s economic development organization, provided a $1.5 million financing package to support Hanna’s investment. This includes a $1.25 million low-interest loan and a $250,000 forgivable loan from the Kenosha County High Impact Fund, which was created and funded by Kenosha County to support high quality economic development projects. In addition, Wisconsin Economic Development Corporation is also supporting Hanna’s investments with tax credits.
“I am pleased to welcome Hannah Cylinder to Wisconsin, and particularly to Kenosha County. This demonstrates that Wisconsin is a great place to do business,” Gov. Scott Walker said.
“Hanna Cylinders is an excellent example of the type of development the Kenosha County High Impact Fund was designed for,” said Kenosha County Executive Jim Kreuser. “Bringing a fast growing, innovative company and 100 new jobs to Kenosha County is exactly what was intended when the fund was established. We’re excited to welcome Hanna to our community.”