12.14.18
Wisconsin will give Kimberly-Clark at least $25 million in tax incentives to keep the Cold Spring facility open in Fox Crossing, according to news reports.
The personal care product company and Wisconsin Economic Development Corporation agreed to terms on a five-year agreement. The deal gives Kimberly-Clark $28 million in tax incentives and is contingent on job retention, capital investment and supply chain purchases.
"It's about keeping our workforce here and across the state. It's about making that kind of capital investment, and then it's about what I alluded to before. You got over $50 million, over $50 million in about 200 companies around the state who are a part of the supply chain. Whose employees and their families depend on what you do here," Gov. Scott Walker says.
Earlier this year, Kimberly-Clark announced global restructuring plans that included the possible closure of two Wisconsin plants—Cold Spring and Neenah Nonwovens.
A bill to offer Kimberly-Clark an incentives package to stay in the Fox Valley stalled twice in the legislature. The bill would have provided K-C with about $100 million in job tax credits.
In July, Kimberly-Clark and its union at the Cold Spring plant agreed to terms on a new contract that's contingent on receiving state tax credits.
A company executive told the state's Joint Finance Committee that without tax breaks, Cold Spring could close and work could be shifted to another facility in Arkansas.
The personal care product company and Wisconsin Economic Development Corporation agreed to terms on a five-year agreement. The deal gives Kimberly-Clark $28 million in tax incentives and is contingent on job retention, capital investment and supply chain purchases.
"It's about keeping our workforce here and across the state. It's about making that kind of capital investment, and then it's about what I alluded to before. You got over $50 million, over $50 million in about 200 companies around the state who are a part of the supply chain. Whose employees and their families depend on what you do here," Gov. Scott Walker says.
Earlier this year, Kimberly-Clark announced global restructuring plans that included the possible closure of two Wisconsin plants—Cold Spring and Neenah Nonwovens.
A bill to offer Kimberly-Clark an incentives package to stay in the Fox Valley stalled twice in the legislature. The bill would have provided K-C with about $100 million in job tax credits.
In July, Kimberly-Clark and its union at the Cold Spring plant agreed to terms on a new contract that's contingent on receiving state tax credits.
A company executive told the state's Joint Finance Committee that without tax breaks, Cold Spring could close and work could be shifted to another facility in Arkansas.
