Posted February 20, 2010
Walter USA gets tax credits for Wis. expansion
Wisconsin Gov. Jim Doyle announced the state will provide $300,000 in financial assistance to toolmaker Walter USA to create jobs in the state.
Walter USA Inc. of Waukesha will receive state economic development tax credits for a $2.7 million consolidation and expansion project that will create 46 jobs and retain 78 jobs.
The economic incentives were integral to Walter USA’s decision to consolidate in Wisconsin and create new jobs. Walter USA’s parent company, Sandvik AB of Sweden, has decided to close its facility in Madison Heights, Mich., and move work, equipment and employees to the Waukesha location. The company will use the Wisconsin tax credits to construct and equip an addition to the Waukesha plant.
Founded in 1919, Walter USA manufactures tungsten carbide tools.
“My No. 1 priority this year is helping our businesses create jobs and giving our workers the opportunities to get those jobs,” Doyle said. “Wisconsin is definitely open for business, and we are pleased to help Walter USA expand its company and create new jobs for hardworking families in Waukesha County.”
