Governor Evers and WEDC Announce Record Capital Investments in Wisconsin

MADISON — Governor Tony Evers, along with Missy Hughes, secretary and CEO of the Wisconsin Economic Development Corporation (WEDC), recently announced that Wisconsin saw record levels of planned capital investments last year as businesses set up and expanded across the state. Businesses working with the Evers Administration through WEDC have committed to more than $2.4 billion in capital investments in fiscal year (FY) 2024, the highest level since WEDC was established in 2011 and well above the previous high of nearly $1.8 billion reached in FY19.

“Whether it’s the expansion of companies like Kikkoman Foods and Nestle Purina in Jefferson or Rosewood Dairy’s new state-of-the-art cheese plant in Clay Banks, this is an incredibly exciting time for business growth in Wisconsin,” said Governor Evers. “We’ve made smart, strategic investments in our infrastructure, our schools, our communities and our workforce, and those efforts are paying off. Businesses are looking to expand or relocate to Wisconsin because they know we have the hardworking people, innovative spirit and strong institutions to ensure they succeed here.”

This announcement also comes as Governor Evers, along with the Wisconsin Department of Workforce Development (DWD), announced last week that Wisconsin reached new record highs for employment and total nonfarm payrolls in June 2024, according to preliminary estimates from the U.S. Bureau of Labor Statistics. Additionally, Governor Evers and DWD announced yesterday that Wisconsin ranked first in the nation for inflation-adjusted hourly wage growth in February, March and May 2024 and second in the nation in April, according to preliminary data on private sector worker earnings released by the U.S. Bureau of Labor Statistics.

“I’ve said recently that Wisconsin is having a moment — as the world focuses on the 2025 NFL Draft in Green Bay, the Wisconsin season of Top Chef and other exciting events we’re attracting to our state. But the reality is, we’re not having a moment. We have momentum,” said WEDC Secretary and CEO Hughes. “Our state is investing record amounts in our communities, our workers and the kinds of innovation that will keep Wisconsin at the forefront for generations.”

A non-exhaustive list of projects supported by the Evers administration through WEDC includes:

● Kikkoman Foods’ $800 million expansion, including a new manufacturing facility in Jefferson and the expansion of its long-standing soy sauce plant in Walworth.

● The construction of a new $340 million brass foundry in Dickeyville by AY McDonald’s and the expansion of its current production facility in Kieler.

● Charter Next Generation’s $270 million expansion of its state-of-the-art film production facilities for industrial, food and medical applications in Milton.

● The $195 million expansion of Nestlé Purina’s pet food manufacturing operations in Jefferson.

● FUJIFILM Cellular Dynamic’s $140 million expansion of its global cell therapy contract development and manufacturing capacity in Madison.

● Kwik Trip’s $95 million statewide expansion project, including the construction of a new distribution center in Deerfield.

● ABB’s $78 million investment in a new U.S. headquarters and manufacturing facility for its electric drive and motion services business in New Berlin.

● The $60 million expansion of Sartori Cheese’s production facilities in Plymouth and Antigo.

● Aztalan Bio LLC’s $45 million investment in its Johnson Creek biofuels facility, which is expected to grow by another $400 million in the coming years.

● Rosewood Dairy’s construction of a new $35 million cheese plant in Clay Banks, on the border of Door and Kewaunee counties.

In total, WEDC has authorized more than $62 million in performance-based tax credits to generate more than $2.4 billion in capital investment, a staggering 40:1 expected return on investment. The projects are also expected to create nearly 5,000 total jobs across the state.

The capital expenditure figures only reflect investments in projects that WEDC has worked on in the past year. They do not include private sector investments in Wisconsin, such as Microsoft’s planned $3.3 billion data center in Mount Pleasant, Eli Lilly and Company’s purchase of Nexus Pharmaceuticals in Mount Pleasant, or Asahi Breweries’ purchase of Octopi Brewing in Waunakee, among other large projects.

In FY24, Governor Evers and WEDC also established the $100 million Wisconsin Investment Fund, the largest public-private investment partnership in the state’s history, to help innovative startups in Wisconsin. About a quarter of the fund’s initial investments will focus on the state’s growing biohealth and biotechnology sectors, which will build on the $49 million Wisconsin will receive from the U.S. Economic Development Administration for designating Wisconsin as one of 12 U.S. Regional Technology Hubs nationwide.

Additionally, WEDC served a record 131 communities through its Main Street and Connect Communities programs and provided more than $33 million in grants and other funding through its Business and Community Development division to support workforce housing, child care, and downtown redevelopment projects in FY24.

WEDC also continues to address the state’s workforce needs through its Workforce Innovation Grants, administered in partnership with DWD. Twenty-seven projects are addressing regional workforce needs—such as workforce training, transportation, child care and affordable housing—through the $128 million grant program.