Wisconsin Department of Commerce Newsletter
Governor Doyle Announces $300,000 for DuraColor, LLC to Establish Printing Plant in Racine
Company Will Create Nearly 120 New Jobs
RACINE - Governor Jim Doyle announced today that DuraColor, LLC, will receive $300,000 in Community Development Zone (CDZ) tax credits to establish a printing plant in Racine.
"My 'Grow Wisconsin' Initiative calls for helping businesses make a lasting investment in Wisconsin's economy," Governor Doyle said. "This project will stimulate the local economy and create jobs for the community. I applaud DuraColor for making this investment, and for bringing new printing jobs back to the former Color Arts plant."
DuraColor recently purchased the assets of Color Arts, Inc., investing $5.8 million to purchase the building, equipment, and working capital. The project will use these assets to establish a DuraColor, LLC printing plant in Racine, and will create 119 full-time, high-wage positions.
"On behalf of the entire DuraColor team, I want to thank Governor Doyle, as well at the Racine County Economic Development Corporation for their assistance in making this happen," DuraColor President and CEO Bill Nahikian said. "The tax credits will go a long way toward securing our growth plans, and achieving our goal of adding quality jobs to the Racine community."
DuraColor is a commercial screen and digital printing company, specializing in large format graphic products. Its products are used for product decoration, product identification, point of purchase promotion, retail and brand enhancement, and fleet and vehicle identification.
The Department of Commerce administers the Community Development Zone (CDZ) program, which offers tax incentives to businesses expanding or locating in a designated area of economic distress. Businesses can earn income tax credits for each new job created assuming one-quarter of the jobs are filled by target group workers who have faced barriers to employment, such as those dislocated by a plant closing or currently participating in Wisconsin Works (W-2) Program. Businesses can also earn a tax credit for environmental remediation.
- Tony Hozeny
The newsletter is issued electronically every other month.
Please send comments or questions to Barbro McGinn, editor.