Regal Beloit Corp. announced it is planning a $6 million, 52,000-square-foot expansion at its Unico Inc. facility at 3725 Nicholson Road in the Village of Caledonia, creating up to 175 new jobs.
The expansion will nearly double the workforce and size of the facility.
Unico is a wholly owned subsidiary of Regal Beloit.
Regal currently employees approximately 400 people in Racine County between its Grove Gear facility in Union Grove and Unico.
Unico currently employs approximately 200 employees in Caledonia.
Increased demand for Unico’s drive products and control systems for use in the oil and gas industry and automotive markets is helping drive the company’s expansion. The company said it carefully evaluated its expansion options, including reviews of sites in Mexico and Missouri.
Unico president Tom Beck said, “This building project is the latest installment in a series of expansions of the Unico business since its beginning 44 years ago in a store front in the inner city of Racine. Today Unico ships products and systems with a Made in America label throughout the world from our regional offices in China, Japan, Germany, England, Columbia, Guatemala, Mexico, Canada, and the United States. The growth of the Unico business is a result of the creativity, motivation, and effectiveness of the Unico employees. This building expansion is proof that people in this community can successfully compete with anyone in the world.”
The company said its decision to expand in Wisconsin was based on the incentive packages extended by the state, Racine County, Caledonia and the Racine County Workforce Development Board.
The availability of technical, skilled, and unskilled workers in southeastern Wisconsin also contributed to the company’s decision to expand at its current location.
Racine County Executive Jim Ladwig said, “By expanding its operations in Caledonia, Regal has shown that Racine County can compete in the global marketplace. We are thrilled that Regal will add 175 more jobs in Racine County, and we are committed to doing what’s necessary to encourage more firms to bring good jobs here and keep them here.”
“The village is pleased that Regal has chosen to expand in the Caledonia Business Park, creating valuable jobs and expanding the tax base of our community. The company’s investment reinforces the village’s decision to create the Tax Increment District to support business growth in the village,” said Village President Ron Coutts.
The company is eligible for up to $695,000 in tax credits through the Wisconsin Economic Development Corporation (WEDC) to support the company’s expansion.
“I am pleased that Regal, a company headquartered in Wisconsin, decided to expand its operations in Caledonia rather than in Mexico or Missouri,” said Gov. Scott Walker. “The strong workforce and commitment by the Village and County were all important factors in keeping these jobs in Wisconsin.”
The tax credits will be distributed annually in direct relation to the number of jobs retained and new, full-time positions created and filled over a three-year period.
The Village of Caledonia is expected to provide a total of $440,000 in tax increment financing (TIF) assistance for the project.