The Grafton Village Board today will consider a cash grant development agreement of up to $150,000 to aid in the expansion of Kapco Inc.’s facility.
According to village documents, the cash grant would be paid to the property owner in annual installments from tax increments collected by the village from TID No. 2 through 2020. Installment payments will be made on or before July 1 of each year, but the grant would never exceed $30,000 in any year.
The property owner is the Kacmarcik Family LLC.
Kapco, a metal stamping and fabrications company, is nearing completion on a 77,000-square-foot addition that will enable the company to accommodate future growth.
The $7 million project in Ozaukee County will allow the company to increase its manufacturing space and add more equipment, which Kapco projects will result in millions of dollars in new business and will create 100 jobs.
Once construction is completed in August, Kapco will have about 600,000 square feet of space in seven facilities in Wisconsin.
Earlier this month, the Wisconsin Economic Development Corporation announced it is providing Kapco with up to $500,000 in state tax credits over the next three years to support the expansion. The actual amount of credits received is contingent upon the number of jobs created over that time.