The operation of an excavation equipment and parts manufacturer, in Wisconsin, was inefficient due to the layout of their existing facility. The options available to the company were to connect two of the existing buildings, build a new facility or relocate to Illinois. It was determined that the new facility or relocation were the only financially feasible options.
Our team was hired to assist in the site selection, to negotiate the economic incentives and to determine what the best options were for the company. The local community and state both supported the project. The project included the construction of a 100,000 sq. ft building and resulted in a total project investment of $9.0 million. The incentives offered included 15 acres of undeveloped land valued at $445,000, $1.0 million TIF reimbursement for improvements external to the building and equipment purchased, $1.0 million 2% fixed loan 8 year with a balloon on a 20 year amortization schedule of which $250,000 was forgivable with job creation, and public infrastructure and site improvements valued at $787,000.