Racine manufacturing giant InSinkErator formally announced Thursday that is investing $65 million in a Racine renovation and expanding into Kenosha to meet the growing need for its food waste disposers.
The company – now a subsidiary of Emerson Electric Co. – has been a Racine mainstay since 1962, and it’s been in the same building since then, too, according to a story in The Milwaukee Business Journal.
After weathering the storm of The Great Recession, demand is up for the “garbage disposers” so many rely on in their homes and businesses, the story continues. The location on 21st Street just isn’t big enough to hold its 1,000 Racine employees or house the 165 new workers the company plans to add between Racine and a new location on 95th Street in Kenosha.
Company President Tim Ferry delivered the news to employees with the help of Gov. Scott Walker, the story reads.
“It is great news for Wisconsin and for the Kenosha/Racine area that InSinkErator has made a commitment to not only staying in the region, but growing its operations here,” Walker said in a press release from the Wisconsin Economic Development Corporation.
InSinkErator will receive $15.5 million in tax credits that are tied to job creation through the Enterprise Zone program. From the WEDC press release, “WEDC’s Enterprise Zone Tax Credits are available to assist businesses that have major expansion projects, or are relocating major business operations from other states. The actual amount of tax credits will be contingent upon the number of jobs created and retained, and the amount spent on capital investment, and supply chain purchases from Wisconsin vendors.”
InSinkErator had been eyeing locations in Racine County, Caledonia Village President Bob Bradley let slip Monday night, but that village lacked the necessary infrastructure and/or a vacant building it could occupy quickly.
Racine County Eye left a message after hours with InSinkErator about that deal, and we will update the story when we hear back from them.
The company plans to move into the new, 160,000 square foot space by the end of the year and have production lines up by the beginning of 2015, the MBJ story continues.