Hanna Cylinders, a manufacturer of industrial grade tie-rod and custom engineered cylinders, plans to move all of its operations from Libertyville, Ill. to Pleasant Prairie, the Kenosha Area Business Alliance (KABA) announced.
The firm has 100 employees that it will move to Pleasant Prairie, where it has signed a long-term lease to occupy a 105,637-square-foot facility at 8901 102nd St. in the LakeView Corporate Park in Pleasant Prairie. The company anticipates growth that could nearly double its employment within five years, KABA said.
The building is owned by ML Realty Partners.
The move is expected to be complete by the end of the year. Libertyville is located about 20 miles south of Pleasant Prairie, so current Hanna Cylinders could make the commute north to the company’s new location, once the move is complete.
“Hanna is looking forward to growing and prospering in Wisconsin,” said Hanna Cylinders president Kimball Bradley. “The State of Wisconsin made Hanna’s decision to relocate from Illinois overwhelmingly clear. Furthermore, KABA worked diligently to facilitate the incentives and a smooth transition.”
KABA, Kenosha County’s economic development organization, provided a $1.5 million financing package to attract the company. The package includes a $1.25 million low-interest loan and a $250,000 forgivable loan from the Kenosha County High Impact Fund, which was created and funded by Kenosha County to support economic development projects.
“Hanna Cylinders is an excellent example of the type of development the Kenosha County High Impact Fund was designed for,” said Kenosha County Executive Jim Kreuser. “Bringing a fast growing, innovative company and 100 new jobs to Kenosha County is exactly what was intended when the fund was established. We’re excited to welcome Hanna to our community.”
The Wisconsin Economic Development Corporation is also supporting Hanna’s investments with tax credits.
“I am pleased to welcome Hannah Cylinder to Wisconsin, and particularly to Kenosha County. This demonstrates that Wisconsin is a great place to do business,” Wisconsin Gov. Scott Walker said.
“We are incredibly pleased to welcome Hanna Cylinders to Pleasant Prairie,” said Village President John P. Steinbrink. “With an incredibly supportive business community, organizations like KABA, and great quality of life features, we’re confident that Hanna Cylinders will excel here.”