Bevco Engineering Company Inc. in Sussex is investing more than $680,000 to add equipment to its facility and create up to 21 new jobs.
The company is eligible for up to $120,000 tax credits through the Wisconsin Economic Development Corporation (WEDC).
Bevco Engineering is adding new wire processing equipment, which will allow the company to supply electrical control panels with lower labor costs as well as quicker delivery schedule. The investment will automate much of the company’s production.
The job retention tax credits will be distributed annually in direct relation to the number of jobs retained over a three-year period, based on the number of new, full-time positions created.
“This expansion is another example of Wisconsin’s improved economy and the confidence companies have investing in their businesses to take advantage of new opportunities,” said Gov. Scott Walker. “This expansion will allow Bevco Engineering to upgrade equipment and improve competitiveness and delivery to customers.”
“I appreciate the company’s commitment to Wisconsin, and I’m pleased the state was able to play a role in moving this project forward to help Bevco improve their supply delivery and competitiveness,” said Paul Jadin, chief executive officer and secretary of the WEDC.