The Wisconsin Economic Development Corporation announced today that it is providing Kapco Inc. with up to $500,000 in state tax credits over the next three years to support the company’s expansion in Grafton–a project expected to create 100 jobs.
The actual amount of credits received is contingent upon the number of jobs created over that time.
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.
Once construction is completed in August, Kapco will have about 600,000 square feet of space in seven facilities in Wisconsin.
“We are pleased to assist this Wisconsin manufacturer as it continues to demonstrate its commitment to growing in the state,” said Reed Hall, secretary and chief executive officer of WEDC, the state’s lead economic development organization. “This project will enable Kapco to better compete with companies in neighboring states to attract new business, which means more growth and more jobs right here in Wisconsin.”
“We are very pleased to be able to continue to grow the Kapco family of companies,” said Hani Malek, the company’s vice president of corporate development. “This not only allows us to provide family-sustaining jobs, but is the engine that propels our strong tradition, desire and commitment to giving back to the great community in which we live and work.”