An Illinois-based plastic injection molds and parts supplier is planning to move to Kenosha in part because of the prospect of working with Foxconn Technology Group, Gov. Scott Walker’s office announced on Friday.
In a news release, Walker said the company, International Mold and Production, plans to create 25 jobs at its new headquarters. Len Koren, who founded the company in 2003, said in the release that he was enticed to move his company across state lines because of new opportunities associated with the $10 billion manufacturing campus that Foxconn is building in Mount Pleasant.
The Taiwanese company plans to make LCD screens there.
“We eventually hope to supply Foxconn as well as tier-one automotive companies after we receive ISO certification,” Koren said in a statement.
The Wisconsin Economic Development Corporation has awarded the company up to $110,000 worth of state income-tax credits over three years. The tax credit it contingent on the number of jobs the company creates in the state.
IMAP plans to invest $1.5 million in its new home in Kenosha and has already started moving some of its operations there. What’s more, the company said it hopes to move some of its contracted manufacturing work from China to Wisconsin.
The company got its start as a consulting business, but in 2016 added a manufacturing division that serves the automotive, consumer-products and medical industries. IMAP combines 3D printing and plastic-injection molding to make 3D-printed plastic injection molds.
Company officials plan to hire sales and marketing staff, engineers and computer-numerical-control machine and molding-press operators.
Walker said in a statement that IMAP received incentive offers from Indiana, Michigan and Mexico, but ultimately decided to move to Wisconsin “because of our state’s growing economy and the possibility of working with Foxconn.”Follow @alexzank