SPX Invests $70M To Double Size of Wisconsin Manufacturing Facility
"For four decades, Waukesha Electric Systems has specialized in building high-quality, medium power transformers utilized by utilities and independent power producers throughout North America," said SPX Chairman, President, and CEO Christopher J. Kearney. "We are now taking steps to strategically expand Waukesha's manufacturing capacity and increase its ability to produce large power units for the North American power grid."
The project will create up to 250 construction, engineering, and skilled manufacturing jobs.
Taxes and incentives from several sources will help to fund the expansion. SPX will receive a federal tax credit of $12 million as part of the Recovery Act's Advanced Energy Manufacturing Tax Credits. And the city of Waukesha will extend $9 million of tax increment financing. The project is expected to be complete by the fourth quarter of 2011.
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