Green Bay Packaging to receive $60 million in state tax credits
GREEN BAY (WLUK) -- A Green Bay paper mill expected to create 200 jobs is getting tax credits.
Green Bay Packaging will receive $60 million in tax credits over 12 years from Wisconsin Economic Development Corporation (WEDC).
The paper mill's $500 million project to build a new paper mill is estimated to indirectly generate 135 additional jobs in the region as well.
“When deciding the location for our new mill, despite the greater economic and logistical challenges, we felt it was important to maintain our commitment to northeast Wisconsin,” said Bryan Hollenbach, executive vice president of Green Bay Packaging. “With this investment from WEDC, we are one step closer to making our new Green Bay mill a reality and cementing our presence in the area for the next generation.”
Gov. Scott Walker says it's one of the largest economic development projects in state history and the largest ever in Brown County.
The actual amount of state income tax credits the company receives is contingent upon the number of jobs created and retained through 2029.