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Invest in America Event Highlights Overseas Investment in America
For Immediate Release: May 6, 2008 TOSHIBA dedicates North American Service Facility in West Allis WEST ALLIS - Senior management from ReGENco LLC and Toshiba International Corporation (TIC) and Toshiba welcomed officials from the US Department of Commerce, the state Department of Commerce (Commerce) and the City of West Allis to jointly celebrate Invest in America Week (May 5-9) at the ReGENco LLC facility in West Allis, Milwaukee County. Commerce Secretary Jack L. Fischer, AIA, attended the event on behalf of the Governor. "The partnership between ReGENco LLC, and TIC has spurred direct overseas investment in Wisconsin and created high-quality jobs in West Allis," said Secretary Fischer. "Attracting additional direct investment is a key component of Governor Jim Doyle's Grow Wisconsin plan. Wisconsin offers executive expertise, a highly-skilled workforce and a superb quality of life, making it an ideal investment location." "Our partnership with Toshiba, the City of West Allis and the Wisconsin Department of Commerce has been an essential part of our continued growth in Wisconsin," said John Bobrowich, president & CEO of ReGENco LLC. "We are now expecting to double our business volume and employment in the next five years." "TIC's investment in ReGENco and selection of West Allis as the location for our North American Service Operations was positively influenced by the excellent support ReGENco has received from the City of West Allis and State of Wisconsin," said Hiroshi Kasagi, Sr. VP and General Manager of Toshiba International. "We believe that Wisconsin's strong industrial infrastructure, excellent educational system and nationally recognized Colleges and Universities will provide a strong foundation for our future growth in Wisconsin. We are excited today to hold our facility dedication during Invest in America Week with the involvement of so many of our friends from Wisconsin." "Invest in America Week is a celebration of the myriad benefits brought to the United States by foreign investment from around the world, in terms of job creation and economic growth," said Aaron Brickman, director of Invest in America. "This positive impact is felt in communities in Wisconsin, and in every state across our country." "This partnership is concurrent with West Allis's mission to grow our economy and attract family supporting jobs," said Mayor Dan Devine. "Our city's highly skilled workers and proven industrial heritage have opened doors to the global economy. The �ReGENco Success Story' is indicative of a bright future for not only West Allis, but for southeastern Wisconsin." Commerce provided a $750,000 loan to ReGENco LLC in 1999 to assist the company with start-up costs. ReGENco is one of the largest and most capable non-Original Equipment Manufacturer turbine and generator maintenance and repair organizations in North America. The company's 160,000sq.ft. repair facility in West Allis is one of the most vertically integrated and capable facilities of its type in the industry. Toshiba is one of the world's largest providers of steam turbines and generators, with over 1800 units, with a capacity of some 150 gigawatts, installed in over 40 countries worldwide. The Company has supplied or sold over 100 steam turbine generators for thermal power plants in North America, including plants now under construction, and expects to see continued demand growth. Toshiba International Corporation has operated in the US for almost 40 years. With offices in San Francisco, Denver, Milwaukee and Chadds Ford, PA, the company's Power Systems Division has built a significant business infrastructure that embraces application engineering, proposal preparation, engineering support, technical assistance, project management, training, and aftermarket services. Invest in America week highlights the US Government's efforts to increase foreign direct investment in our nation. Invest in America, a program of the International Trade Administration (ITA), is the primary U.S. Government mechanism to manage foreign direct investment promotion. To increase trade and investment, ITA helps U.S. companies navigate foreign markets. ITA helps educate companies about how to tailor their activities to the specific market with respect to their product slate, financing, marketing, assembly and logistics. ITA ensures that U.S. industry's commercial interests are represented in trade negotiations, bilateral and multilateral discussions, and the U.S. rulemaking process. ITA monitors industry access to overseas markets and works to remove costly barriers to product and service exports. To learn more about ITA programs, visit http://www.trade.gov/investamerica. -30- |
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