Manitowoc food-packaging company to receive state tax break
MANITOWOC (WLUK) -- A Lakeshore company is getting state tax breaks for its $40 million expansion.
The Wisconsin Economic Development Corporation announced Monday it will provide as much as $1 million in state tax credits over three years to Lakeside Foods.
Lakeside Foods broke ground last summer on a 100,000-square-foot addition to its Manitowoc headquarters. The expansion is expected to add 48 jobs to the company.
"Lakeside Foods’ investment in Wisconsin shows the company’s continued commitment to our state and their workforce,” Mark R. Hogan, secretary and CEO of WEDC, said in a news release. “This expansion will require a significant capital investment on the part of the company, and WEDC is proud to provide support to make this a viable project for Lakeside Foods.”
The tax credits are contingent upon the number of jobs added and the amount of capital investment.
Lakeside Foods currently packages more than 100 million pounds of frozen and canned vegetables every year for more than 100 private-label customers.
The expansion is expected to be finished in the middle of next year.