Please ensure Javascript is enabled for purposes of website accessibility
Home / Government / Doyle: Saving Mercury Marine jobs could cost $70 million (3:18 p.m. 11/6/09)

Doyle: Saving Mercury Marine jobs could cost $70 million (3:18 p.m. 11/6/09)

FOND DU LAC, Wis. (AP) — Gov. Jim Doyle says dissuading outboard-engine maker Mercury Marine Inc. from moving its Fond du Lac operations to Oklahoma could cost state taxpayers $70 million.

That’s in addition to a $50 million loan funded by Fond du Lac County sales tax and $3 million from the City of Fond du Lac.

In return, the outboard-engine maker is expected to retain several thousand jobs in the Fox Valley.

Last summer, Wisconsin and Oklahoma were engaged in a bidding war for Mercury’s factories. Last-minute union concessions and proposed government aid persuaded the company to remain in Fond du Lac.

Doyle says the $70 million in state assistance comes mostly in the form of refundable tax credits. He says the company won’t get the full amount if it does not retain 2,700 jobs.

Leave a Reply

Your email address will not be published. Required fields are marked *

*