Wisconsin Department of Commerce Newsletter
Gov. Doyle Announces Funding for Genencor InternationalEarlier this month, Gov. Jim Doyle announced that Genencor International, Beloit, Rock County, in the Capital Ideas Technology Zone, received $150,000 in Technology Zone tax credits. The Capital Ideas Technology Zone includes the counties of Dane, Jefferson, and Rock. Department of Commerce Secretary Cory L. Nettles traveled to Beloit to present the award to Genencor International representatives.
"My ‘Grow Wisconsin’ Initiative calls for supporting technology development and innovation in our business climate," Gov. Doyle said. "I am pleased to provide funding to Genencor International. The company will invest $2 million in state-of-the-art equipment to add the capacity to meet anticipated demand, retaining approximately 35 good, high-paying jobs."
"This program will allow us to further develop our operations and increase efficiencies in our manufacturing processes," said Matt Reboli, plant manager of Genencor International’s Beloit facility. "We are very pleased that the state and the City of Beloit have recognized our commitment to the area and are willing to assist us with further investment in the community."
Genencor International is a diversified biotechnology company that develops and delivers innovative products and services to the health care, agri-processing, industrial, and consumer markets. Using an integrated set of technology platforms, Genencor's products deliver innovative and sustainable solutions to many of the problems of everyday life. Genencor traces its history to 1982 and has grown to become a leading biotechnology company, with over $350 million in year 2002 annual revenues.
"With the assistance of the Technology Zone Program, Genencor International’s fixed asset and human capital investment clearly positions the area as a beneficiary of future product commercialization opportunities," said James Otterstein, Capital Ideas Technology Zone representative. "This is a signature biotechnology project for both the zone and the state, one that is anticipated to foster and forge industry-wide relationships."
The Capital Ideas Technology Zone provides incentives for high-tech growth in knowledge-based, manufacturing, biotechnology, food processing, and business services industry clusters, among others. For more information about the Technology Zone program, contact Amy Cumblad at (608) 266-2688.
The newsletter is issued electronically every other month.
Please send comments or questions to Barbro McGinn, editor.