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Tax credits support seven Milwaukee companies
December 16, 2009//
Tax credits support seven Milwaukee companies
Seven companies that renovated or built in Milwaukee’s central city received $12 million in tax credits from the Redevelopment Authority of the City of Milwaukee.
The money comes from a federal program that gives tax incentives to companies in certain low-income areas. The seven company’s projects in Milwaukee’s central city amounted to $43 million in construction work. They will retain 185 jobs and are expected to generate 137 new jobs in the next three years.
The money is awarded to companies on a competitive basis. Eleven companies submitted applications for the money.
The largest individual award went to a company doing business as Charter Wire that built a 160,000-square-foot industrial building on a 7.8-acre parcel in the Menomonee Valley Industrial Center. The project received $4.5 million in tax credits through the city’s redevelopment authority.
A complete list of the awardees can be found in the Milwaukee Department of City Development’s news release.
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