* From the Milwaukee Journal Sentinel...
An Illinois lighting company with 400 employees plans to move across the state line to Kenosha — the second manufacturer in a week to say it will leave northern Illinois for Wisconsin.
Kenall Manufacturing plans to relocate its headquarters and factory from Gurnee, Ill., to a 354,000-square-foot facility to be built near I-94 along Highway 158.
The company is getting over a million dollars in incentives…
One aspect of the various government incentives is ready: Kenosha County will provide $1 million from a special economic development fund authorized two years ago, County Executive Jim Kreuser said.
Another $250,000 from the fund was used recently to help woo Hanna Cylinders from Libertyville, Ill., to Kenosha County. That relocation, announced last week, will bring about 100 manufacturing jobs to Pleasant Prairie by the end of the year. Hanna, which makes hydraulic and pneumatic cylinders, will occupy a 105,000-square-foot plant in Lakeview Corporate Park.
* But the specific incentives are only part of the bigger picture…
Another key to luring companies such as Kenall to Wisconsin, he believes, is the virtual phasing out of the state corporate tax on income generated by manufacturing production. Enacted in 2011, the legislation will effectively cut the tax on production from 7.9% to 0.4% over the next few years, Battle said.
He said Kenall and other firms consider “the direction and velocity of the state’s business climate” when making location decisions, and that the elimination of almost all of the tax on production earnings “clearly was in our favor.”
* But the Hanna Cylinders move has a bright side…
(A) Chicago-based developer already has eyed the site along Route 176 for an industrial facility.
Bridge Development Partners LLC plans to invest $25 million to $30 million in two buildings with a mix of light assembly, manufacturing and warehousing uses.
The project marks the first speculative construction of its kind in Libertyville in several years.
Although the facility would be built without specific tenants in mind, the site could attract 200 to 300 jobs — a “realistic expectation,” said Mark Christensen, a principal with the commercial real estate firm.
* And this is from a press release…
Governor Pat Quinn and Mike’s Hard Lemonade Co. today announced that the premium malt beverage maker is opening its new U.S Headquarters in Illinois, creating 80 jobs. The office, located at Jackson and Jefferson Streets in Chicago’s West Loop, is positioned to tap into the region’s substantial marketing talent and consumer product expertise. The announcement is part of Governor Quinn’s agenda to drive Illinois’ economy forward and create jobs.
“Mike’s chose to relocate to Illinois because of the state’s central location, leading education institutions and its progressive business environment,” Governor Quinn said. “The presence of a dynamic company like Mike’s is the kind of business Illinois needs to advance our vision of becoming one of the most exciting and vibrant business corridors in the nation.”
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