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Scott Walker 
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IMPORTANT: As of July 1st, 2011, functions once performed by the Wisconsin Department of Commerce have been moved to other state agencies and the Wisconsin Economic Development Corporation. The former Commerce web site will continue to exist for the next several months as resources are moved to new web site locations. We will make every attempt possible to direct our users to the new locations as web resources are moved.
Governor Doyle, Mayor Barrett Announce $800,000 Grant to Revitalize Tower Automotive Site
For Immediate Release: January 8, 2010 Development on Renewed Site Could Create 700 to 1,000 Jobs MADISON - Governor Jim Doyle and Milwaukee Mayor Tom Barrett today announced that the state is awarding the City of Milwaukee Redevelopment Authority an $800,000 grant to assist in the redevelopment of the former Tower Automotive site in Milwaukee. Renewing the industrial site is expected to attract new development that could potentially create 700-1,000 new jobs. "The Tower Automotive site project demonstrates the state's and Milwaukee's shared commitment to working together to invest in the Milwaukee community and position the city for long-term economic growth," Governor Doyle said. "This project will not only revitalize this industrial site, but will also protect public health and the environment and leverage private investment." "The redevelopment of the AO Smith/Tower Automotive property will remediate environmental contamination from a century of heavy industrial use, and the development of the Century City business park will return between 700 and 1,000 jobs to central city neighborhoods," Mayor Barrett said. "State investment in this project will help to transform a highly distressed property into an economic engine and symbol of hope." Under the leadership of Mayor Barrett, the City of Milwaukee's Redevelopment Authority recently closed on the purchase of the former Tower Automotive property. Most of the site, which had been used for heavy industrial production for a century, will be redeveloped as a new business park known as Century City. Previous redevelopment projects similar to the one proposed at Century City, such as in Milwaukee's Menomonee Valley Industrial Center, have attracted significant new investment that has created hundreds of local jobs. The Mayor's plan is for the City to provide Tax Incremental Financing and other development tools to help grow businesses at Century City, which in turn will become an economic anchor in the 30th Street Industrial Corridor. The $800,000 Blight Elimination and Brownfield Redevelopment (BEBR) grant from Commerce will be used for site clearance and will supplement the city's redevelopment efforts. The total project cost is over $30.5 million and the site cleanup project is expected to take over two years to complete. The site currently contains 2.1 million square feet of buildings in various states of disrepair. The Tower Automotive project builds on the major investments Governor Doyle is making in the future of the state. Under the Governor's leadership, Wisconsin has gained some of the most powerful economic development tools in the country. The budget Governor Doyle signed last year made unprecedented investments in Wisconsin businesses, including powerful new tax credits designed to keep and add jobs. The budget also offered companies major new incentives to spur research and development and gave investors new tools to promote start-ups and new companies. The Governor's efforts have strengthened a continuous drive to modernize and grow all segments of Wisconsin's economy. -30- |
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