March 16, 2004
$2 million tax credit for Bay Shipbuilding
Manitowoc Marine's Bay Shipbuilding in Sturgeon Bay, Wisconsin, is getting an Enterprise Development Zoned Tax Credit from the Wisconsin Department of Commerce. The tax credit program will credit Bay Ship $2 million over the course of three years.
The tax credit is being given as part of Governor Jim Doyle's Grow Wisconsin plan and was announced by the Governor when he toured the yard yesterday.
Bay Ship will use the credit to expand its production facilities by 14,000 square feet to house an automated panel fabrication line.
"The machine will change our process and manufacturing flow," said Pat O'Hern, general manager of the shipyard, reports the Green Bay News-Chronicle. "The machine will make our manufacturing much more efficient and will increase employee efficiency."
The newspaper says that the credit supports the creation of 600 new jobs over the course of the next three years. "We've recalled 200-plus workers since we received the credit," it quotes O'Hern as saying, "and we've hired 170 new employees. We're going to need another 100 yet this year to finish the work we've got."