Plastics Manufacturer GOEX Corp. Opening Manufacturing Facility in Janesville, Wisconsin
The company has outgrown its existing 70,000-square-foot building and construction is under way on a new 190,000-square-foot facility on 29 acres on Janesville’s north side. The building is expected to be completed by the spring of 2015.
“When the time came to look for a new manufacturing site, we looked at other communities and other states,” said GOEX President Joshua Gray. “We have an exceptional workforce in Janesville and Rock County, and preferred to stay here if at all possible. WEDC and the tax credit program was one positive component to our decision to relocate here.”
The Wisconsin Economic Development Corporation authorized up to $655,000 in tax credits over three years to support the project. The tax credits will be distributed annually based on the number of new, full-time positions created during that time and the amount of capital investment the company will make in the project.
“WEDC has been very active in working with Rock County companies to help them expand, and we are pleased to add GOEX to that list,” said Reed Hall, Secretary/CEO of WEDC, the state’s lead economic development organization. “Since 2012, WEDC has approved nearly $6 million in awards for Rock County companies that are expected to help create or retain more than 1,200 jobs.”
The City of Janesville also provided GOEX with $594,000 in assistance through a Tax Incremental Financing District. “The city worked very diligently with the WEDC to develop a competitive package that allowed GOEX to maintain and expand its operations in the community,” said Ryan Garcia, economic development coordinator for the City of Janesville. “This project was an excellent example of collaboration between the city, state and a local company to ensure its continued presence and future success in Wisconsin.”
“For more than 20 years, GOEX has been a key employer in Janesville, and I applaud the company’s decision to remain and grow in the city,” said Governor Scott Walker. “GOEX’s continued growth—so much so that it has run out of room at its existing plant—is another indication of the continued strength of Wisconsin’s manufacturing industry.”
“This project provides another visible example of the deep and strong manufacturing roots that exist within the Janesville-Beloit metro area,” added James R. Otterstein, economic development manager of the Rock County Development Agency. “Additionally, it reinforces the critically important roles that public/private partnerships play within today’s competitive economic development arena.”
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