Husco International announced today it is embarking on a multi-year, $45 million capital expansion project at its Wisconsin facilities in Waukesha and Whitewater, an endeavor that is expected to create more than 150 permanent new jobs in the state by 2015.
Austin Ramirez, president and chief executive officer of Husco International, made a series of announcements today during a celebration at the company’s world headquarters in Waukesha.
Husco designs and produces hydraulic and electro-hydraulic components that improve the overall efficiency, controllability and performance of automotive and off-highway mobile equipment.
“A significant portion of Husco’s revenue growth will take place with Ford Motor Company who today is recognizing Husco’s Waukesha facility with their top honor for a production supplier – the prestigious Q1 certification. We are thrilled to have this opportunity to celebrate with one of Husco’s most important customers along with the governor and his economic development team.”
Over the past three years, Husco has invested more than $116 million in capital equipment, facilities and product development to create over 500 new jobs globally, approximately half of which are in Wisconsin. Husco expects to generate more than $360 million in global revenue in 2013, a 300-percent increase over 2009 and 20 percent higher than 2012.
“I congratulate Husco for making this major investment in its operations to grow in Wisconsin,” said Wisconsin Gov. Scott Walker, who attended today’s announcement. “Husco is well-positioned to expand its leadership in automotive engineering efficiency technologies, and I’m pleased the State of Wisconsin is a partner in supporting the company’s growth.”
The Wisconsin Economic Development Corporation has made Husco eligible for up to $800,000 in tax credits to support the company’s major investment.
“The growth in the U.S. auto market and its position in the off-highway equipment business are providing Husco some great opportunities for expansion in Wisconsin,” said Reed Hall, secretary and chief executive officer of the WEDC.
The tax credits WEDC has made HUSCO eligible for will be distributed annually in direct relation to the number of jobs retained over a three-year period, as well as based on the number of new, full-time positions created, Hall said.