UAI to build $15M factory in Janesville starting in March
United Alloy Inc. announced plans Friday to build a 100,000-square-foot factory in Janesville in a project expected to create as many 66 jobs in the next three years.
The metal-fabrication and powder-coating company plans to build a factory on a 17-acre lot next to the company’s existing building on Kennedy Road. The $15 million project also includes a 7,500-square-foot addition to the current factory and the installation of new equipment at both buildings.
The new factory will have a new painting system occupying about a fourth of its space, the rest of which would be use for assembly and loading areas.
Work on the project is scheduled to begin in March and is expected to be completed by January 2019.
The Wisconsin Economic Development Corporation is supporting the project by approving up to $560,000 in state income tax credits over the next three years. The actual amount of tax credits UAI will receive will depend on the number of jobs created and the money spent on its new factory.
To provide additional support for the project, the WEDC has approved up to $10 million in Industrial Revenue Bonds to Janesville. The city will issue the bonds on behalf of UAI. The proceeds from the sale will help finance the construction. The city also sold UAI 17 acres for $1, and provided the company with $394,000 in forgivable loans.
“UAI is one of the many existing Wisconsin companies that are expanding here because of the state’s pro-business climate and outstanding workforce,” said Governor Scott Walker, who joined company officials today in Janesville for the expansion announcement.