October 22, 2010

Wisconsin meat processing sector receives tax credits

Wisconsin governor Jim Doyle announced US$300,000 in Meat Processing Facility Investment Credits for 17 meat processors that will leverage US$3.4 million in investments and generate 49 jobs.

The credits were announced on behalf of the governor at an event at Nueske's Meat Products in Shawano County. Nueske's received a US$20,943 grant to upgrade its equipment and facility and create 12 jobs.

The programme was created in the governor's last budget to support the modernisation of the state's meat processing industry. The programme provides a tax credit for up to 10% of the expenditures meat processors invest in modernization or expansion. Eligible costs include construction, additions, utility upgrades, equipment, technology and other upgrades.

This is the first year that meat processors can apply for the tax credits. In the next fiscal year, US$700,000 will be available for the programme. The programme will continue through January 1, 2017.