WAUKESHA -- Generac Power Systems Inc. and the Wisconsin Economic Development Corporation (WEDC) announced on Monday, August 14th that a WEDC award of up to $10 million in Enterprise Zone Tax Credits through 2021 will support the company’s growth plans at its Waukesha-based global corporate headquarters and manufacturing facilities throughout Wisconsin.
The project is expected to create at least 400 jobs over the next five years, a news release issued on Monday indicates.
Generac plans to invest more than $73 million in building renovations and equipment in a growth plan that will encompass its facilities in Waukesha, Oshkosh, Jefferson, Eagle, Whitewater and Berlin. The plan calls for the expansion of Generac’s corporate headquarters,
research and development, and production operations in Wisconsin.
Aaron Jagdfeld, president and CEO of Generac issued the following statement:
The news release also says in addition to the 400 jobs expected to be created by Generac, an economic modeling study projects that the project will indirectly generate 356 additional jobs in the region. Over a five-year period, the direct and indirect jobs could generate $9.5 million in additional state income tax revenue.